1. Professional SMSF Auditors for SMSF Audit
Each and every person who is running self managed super funds has to ensure that these can be
properly audited by approved SMSF auditors. These days, SMSF audit and SMSF borrowing have
become very strict. So, you need to hire the services of a professional editor who has the knowledge
about setting up a SMSF and SMSF investment strategy. For this, you may have to pay an extra
amount but you can make sure that your super funds are complying with the auditing requirement of
the ATO.
One of the biggest benefits of hiring qualified SMSF auditors is to save both time and money. SMSF
training will take your time and will cost you a great amount of money. Just by paying fixed audit fees,
you will manage your account properly as per the official standards. As well, your fund can be edited
quickly without any costly mistake.
As per the ATO, third party SMSF auditors are required to audit the fund. Even if you think you have
the suitable system for setting up a SMSF, you still need to comply with the existing regulations.
Professional auditors have got the right training for SMSF setup and have the proper accreditation to
conduct audits of accounts annually.
They can also help you to comply with the requirements for SMSF borrowing and maintaining SMSF
accounts. 30 days prior to the due date of the SMSF return, a SMSF auditor having the right training
should be hired. If you are a holder or trustee of such fund, you should also appoint an approved
SMSF auditor every year.
iCare Super
Level 1, 1 Oxley Road
HAWTHORN VIC 3122
Australia
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Website: http://www.icaresmsf.com.au/
Blog: http://smsfaudit.blogspot.com.au/