SMSF Audit is a practice in which financial statements such as balance sheets and income statements are analysed in the line with Australian Auditing Standards. To make the entire process hassle-free, it becomes vital for trustees to coordinate with the SMSF auditors and ensure every breach is rectified and all tax obligations are duly paid.
In case of breaches, it becomes the duty of the auditors to report them to the ATO within 28 days using ATO approved contravention report document.
SMSF Audits are essential and must be performed by Auditor duly authorised by the Australian Securities and Investments Commission (ASIC). Australian laws are rigid and ensure fair practices, for which it becomes a necessary aspect that the auditor must not be having any personal or business relationship with the trustees.
As per the laws, the SMSF needs to be audited on annual basis by a skilled and authorised auditor. The auditors need to appoint an auditor or go for outsource smsf audit services at least 45 days before filing the annual return to the ATO department. Even if there is no financial contribution in a year, an SMSF audit is essential to be conducted every year as per the laws of the authorities.
We are providing fast, cost-effective SMSF Audit services to our clients widely spread in Western Australia through our effective and result oriented SMSF Audit process that is simple and easy to understand.
We leverage technology in our smsf audit services that let us reduce our client’s paperwork and time consumption and ensure peace of mind. All our services are following the Australian Auditing Standards.
Get in touch with us and speak to one of our experts for availing the best in town superannuation audit services that gives you upper hand is preparing for a smooth retirement.