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SMSF Audit Information requirements

We aim to provide a streamlined SMSF audit process which involves minimal disruption to you and your office. Accordingly we request that you provide copies of the following documents, as appropriate, for each SMSF you require us to audit:

First year of Audit engagement only

1.1 Copy of current Trust Deed or any amendments during period

1.2 Prior year signed and audited financial report

1.3 Prior year management letters (if applicable)

1.4 Copy of ATO correspondence including confirmation that fund is a regulated fund

1.5 Details of all Trustees/Trustee Company Directors including DOB

1.6 Copy of consent to act as trustee documents (First audit or if new trustee is appointed during the period)

1.7 Copy of fund member application forms (First audit or if new members join during the period)

General Compliance Requirements

2.1 Signed Letter of Engagement

2.2 Signed Trustees Representation Letter

2.3 Copy of latest ASIC annual company statement (Corporate Trustee only)

2.4 Signed Investment Strategy

2.5 Signed Trustee minutes for year

2.6 Income tax/SMSF Annual return

2.7 Documents to support contributions (employer and/or member) received for period (e.g. Employer remittance advices, fund trustee minutes)

2.8 Copies of any rollover documentation (if applicable)

 
Financial Records

3.1 Year-end financial statements including annual members statements

3.2 Copy of accounting work papers and transaction reports for the period eg general ledger, cashbook, reconciliations etc.

Cash and equivalent

3.3 Bank statements for the year

3.4 Statements confirming details and movements of Term deposits, fixed interest securities or similar

Listed shares

3.5 HIN/SRN or Chess Statements

3.6 Broker statements showing share purchases/sales

3.7 Dividend statements for all shareholdings

Unlisted shares

3.8 Unit or share certificates

3.9 Year-end financial statements for each company or trust

3.10 Dividend/distribution statements

Managed funds

3.11 Acquisition/withdrawal documentation

3.12 Annual manager statements confirming ownership and value

3.13 Distribution statements

Property

3.14 Copy of rates notice showing Lot and Plan number

3.15 Certificate of Title

3.16 Details of method used to value property

3.17 Rental agreements and statements

3.18 Building insurance policy

3.19 Loans (if applicable) – signed loan agreement and details of any relationship to Trustees

Other assets eg. collectables

3.20 Purchase and sale agreements

3.21 Details of storage, security and insurance

3.22 Lease agreements

Expenses

3.23 Supporting reconciliations/schedules

3.24 Invoices/statements supporting reconciliations & schedules

3.25 Copies of Insurance policy documents confirming owner, life insured, cover and premiums

Pension payments (if applicable)

4.1 Copy of pension request form member to Trustee and acceptance by Trustee

4.2 Signed confirmation of Benefits

4.3 Minutes (Change to account based pension)

4.4 Work papers calculating benefits

4.5 PAYG payment summaries for pensions paid

4.6 Rollover statements for any monies rolled out of fund

4.7 Documentation confirming member condition of release

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