Technical Aspects

Here are several important technical aspects connected with the auditing of an SMSF.

  1. The Accounting and Auditing functions must be segregated – they cannot be performed by the same person.
  2. SMSF Auditing standards

GS009 Guidance Statement 009released in August 2011.

The new version has been updated for:

  • The new suite of ‘clarity’ Auditing Standards that became operative for reporting periods that commenced on or after 1 January 2010
  • ATO current requirements applicable to the 2010/11 reporting year
  • Current superannuation legislation updates
  • Practical issues that may be encountered on SMSF audits.

The Guidance Statement also contains a range of specimen documents including an engagement letter and an audit report (see appendices 1 and 3 respectively). These documents can be viewed by following the link above.

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We are Melbourne based with clients throughout Australia. Our SMSF administration service is mostly paperless. This enable us to charge a fair fee, resulting in a good value-proposition for you.

No Advice

Superannuation Warehouse is an accounting firm and do not provide financial advice. All information provided has been prepared without taking into account any of the Trustees’ objectives, financial situation or needs. Because of that, Trustees are advised to consider their own circumstances before engaging our services.

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