An SMSF is required to be audited by a registered SMSF auditor who reviews the operation of the fund and completes a financial and compliance audit. A financial and compliance audit must be completed before a fund’s SMSF annual return can be lodged with the ATO.
There are set timeframes around the appointment of auditors and the completion of audit reports. As a trustee you also have responsibilities around providing information to auditors within set timeframes.
SuperConcepts' SMSF administration service includes the appointment of a specialist independent auditor for your SMSF who will prepare the annual audit of your SMSF tax return.
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Our SMSF insights explain the differences between SMSFs and other super options and the ins and outs of operating an SMSF.