Every SMSF needs an annual audit by an independent auditor to ensure that it complies with all the rules and regulations governing Superannuation Funds. If Trustee's get it wrong it could mean that your SMSF becomes a non-complying fund and in the worse case scenario loose its concessional tax treatment resulting in the fund having to pay 46.5% in tax upon the value of the assets in the fund.
At ACG, we have streamlined the audit process so that you do not have to do any work in respect of finding an approved auditor and have even negotiated a fixed price for the audit in advance.
We submit all the accounting and tax records to the auditor via our class super system which streamlines the audit and allows the audit to be completed in the minimum possible amount of time.
Upon finalisation of the audit, the auditor will either provide an unqualified audit opinion stating that the fund has complied with all regulations or where breaches in compliance have been identified, we will discuss these with you to help the fund get back on track and rectify any issues should this be the case.