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What to Look for When Engaging an SMSF Auditor

What to Look for When Engaging an SMSF Auditor

The recent changes to SMSF auditor independence standards will likely result in tens of thousands of funds moving to different auditors in the next year or so. If you and your clients are in the position of moving to a different SMSF auditor, how can you select one...

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Are my SMSF Investments named correctly?

Are my SMSF Investments named correctly?

The benefits of investing in an SMSF allows members to have control over investments and have the choice of investing in many areas such as direct property, listed shares, managed funds, private investments and unique/unusual investments. The super fund holds these...

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COVID-19 Superannuation Changes: What you need to know

COVID-19 Superannuation Changes: What you need to know

On March 22nd  the Federal Government announced a raft of changes in their financial aid package to assist anyone adversely affected by COVID-19 pandemic. Among those changes was the announcement of special access to superannuation funds and changes to the minimum...

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Investment Strategy Guidance Released by ATO

Investment Strategy Guidance Released by ATO

        Following on from our blog on the importance of an investment strategy review, the ATO has released further guidance for SMSF investment strategies. The ATO stated that the investment strategy of an SMSF should be ‘your plan for making,...

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Audit Your Superfund wins SMSF Adviser Award

Audit Your Superfund wins SMSF Adviser Award

Audit Your Superfund is excited to announce we have been awarded the SMSF Adviser's Editor's Choice Award for providing outstanding service to our local SMSF community.  Audit your Superfund has won the state-based Metro Firm of the Year 2019. AYS' relationship...

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Work Test Exemption Explained

Work Test Exemption Explained

There have been some changes to the work test exemption from 1 July 2019. See below further information regarding these changes.  The Work Test – What is it? The work test generally applies from a member's 65th birthday. To satisfy the test, a member must have been...

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Independence of a SMSF Auditor – Don’t Risk It!

Independence of a SMSF Auditor – Don’t Risk It!

In the first half of the 2018/2019 financial year, the ATO referred 37 self-managed super funds auditors to ASIC for independence breaches. This operation was part of the ATO crackdown aimed at reviewing SMSF auditors in an attempt to unearth an intentional failure to...

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The Importance of an Investment Strategy Update

The Importance of an Investment Strategy Update

What is an Investment Strategy? The investment strategy is not just a required document for a super fund audit, it guides the entire direction of the fund's investments. An SMSF trustee is required to document an investment strategy that has regard to the following:...

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Why are signed documents so important?

Why are signed documents so important?

We frequently receive queries from clients asking why the documents they have submitted for their audit must be signed. Often, we receive documents that are partially completed. For example, the document could be signed by the trustees but not dated and therefore...

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2016 Budget Notes

2016 Budget Notes

Tuesday May 3rd will not be looked upon fondly by many retirees, given the restriction on tax concessions for those with balances over…

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If you want to talk SMSF audits,
please contact us.

P: 1800 767 329
E: info@audityoursuperfund.com.au

172 Fullarton Road, Dulwich SA 5065

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