Do I Need to Audit My SMSF?

✅ Trustees: If you manage an SMSF, it must be audited annually.
✅ Members with control: If you play an active role in fund decisions, you also require an audit.
✅ Company-operated SMSFs: If a business runs an SMSF for its employees, audits are usually mandatory.

What Does an SMSF Auditor Do?

An SMSF auditor ensures that your fund complies with ATO regulations. Their role includes:
🔍 Checking the fund’s financial and compliance records.
🔍 Ensuring all legal requirements are met.
🔍 Providing an independent review (auditors cannot be a trustee, fund member, or employee of the SMSF).
🔍 Being ATO-registered and accredited by CPA Australia or CAANZ.

Trustee Responsibilities

Trustees must oversee fund compliance, including:

✔ Operating the SMSF according to superannuation laws.
✔ Having a valid trust deed for the fund.
✔ Ensuring contributors understand their rights and benefits.

Who Can Perform an SMSF Audit?

Only a qualified accountant registered with the ATO can conduct SMSF audits. Auditors must have training, certification, and industry-specific experience.

When Can You Appoint an Auditor?

📅 Anytime during the financial year.
📅 Before or after lodging an SMSF annual return.
📅 Even after the ATO issues a final notice, provided the appointment is deemed reasonable.

Ongoing Compliance: What You Need to Know

✔ Annual audits ensure your SMSF remains legally compliant.
✔ Keep documentation ASIC recommends storing all SMSF records for seven years after closure.

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Why Choose SMB Accounting for Your SMSF Audit?

SMB Accounting is a trusted leader in SMSF audits, serving accountants across Australia with guaranteed 24-hour turnaround and we never outsource.

Transparent, Fixed Fees:

💰 Funds < $2M: $350 + GST 💰  Funds > $2M: $450 + GST
💰 Contravention Reports: $180 per contravention

Contact Us Today!

📩 Email: stephen@smbaccounting.com.au
📞 Phone: 1300 854 159