by Audit Your Superfund | Aug 13, 2024 | Blog
It is a regulatory requirement for all SMSFs that assets be valued at their market value when preparing the fund’s annual accounts and financial statements. Additionally, SMSF auditors are required to gather sufficient and appropriate evidence to support the value of...
by Audit Your Superfund | Aug 9, 2024 | Blog
The ATO requires that every SMSF client must prepare and implement a strategy for their investments and review it regularly. Regular review is essential to not only ensure compliance with the law, but also to make sure that the members’ retirement goals are on...
by Audit Your Superfund | May 31, 2024 | Blog
“My client’s Self-Managed Superannuation Fund (SMSF) is buying a commercial property. What will I need to provide for the audit?” When an SMSF buys a commercial property, certain documents and evidence need to be provided for the audit. The specifics depend on whether...
by Audit Your Superfund | Jul 30, 2020 | Blog
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...
by Audit Your Superfund | Nov 6, 2019 | Blog
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...
