List of Documents For My SMSF Auditor Registration!
Having your SMSF audited isn’t exactly ‘exciting’ but it is a requirement of the SIS Act. This must be done on a yearly basis in order for you to meet your requirements of the Superannuation Industry (Supervision) Act 1993 (SISA) and the Superannuation Industry (Supervision) Regulations 1994 (SISR).
While your accountant, financial planner or administrator will help you through the audit process, it is your responsibility to ensure your SMSF is audited and that you have provided sufficient and appropriate documentation to commence the audit process.
Here is a list of some of the documentation you may be required to supply:
- Trust Deed, trustees Consents, Member applications, New Trustee Declaration if post 1 July 2007; Investment Strategy and AGM Minutes
- Financial statements for the Fund, including Notes to the Statements as well as Member Statements
- Cash management and bank statements and all Fund accounts including cheque, savings and term deposits
- Annual transaction and income report of SMSF
- Share Broker’s statement
- Holding statements for shares held during the year
- Buy and sell contracts for all shares held during the year
- Statements showing the ownership of all fixed interest securities like bonds, hybrids and notes
- Contracts for any property purchased or sold
- Copy of the Title deed showing evidence of ownership for any property in the correct name.
- Property valuations or market appraisals to be performed annually
- Building & Liability insurance certificates of currency
- Lease agreements and rental income and expense statements
- Documentation for any art or collectables including evidence of Insurance in the name of the SMSF, invoices for storage as well as an annual valuation.
- Details of any debts owed by the SMSF including loan statements showing repayments as well as the Bare Trust, Mortgage Documents, Loan Agreements
- Documentation of any related party loans or investments to satisfy the requirement that the Fund is transacting on commercial terms
- Confirmation of any contributions or withdrawals
- Confirmation that the member is eligible for contributions or meets a condition of release for withdrawals
- Draft Tax Return
All members of Super Audits are qualified as approved auditors and specialise in auditing services for accountants, financial planners and administrators.
Click here to get a quote for your SMSF audit today.