Self-managed super funds are a great choice when it comes to investments and financial independence. However, r unning an SMSF is not a child’s play. There is a lot to take care and SMSF audit is one of those mandatory requirement s that should be met. SMSF auditing should be done by SMSF auditor s registered with the Australian S ecurities and Investment C ommission ( ASIC ) . App roved SMSF auditor s are required to carry out the financial as well as compliance audit for the superfunds. Not sure what superannuation audit is all about? Read on! What is an SMSF audit? The SMSF laws require an SMSF to be audited annually . Australian SMSF audits can be categorized into two parts: Financial audits: While performing financial audits, super fund auditors check whether the financial statements of the SMSF are accurate or not. Compliance audits: The purpose of the compliance audit by the SMSF auditor is to make sure that the SMSF is comp
Accounting, Taxation, Bookkeeping, smsf audit