You need to appoint an approved SMSF auditor to audit your fund each year.
They must be appointed no later than 45 days before your SMSF annual return (SAR) is due to be lodged.
You must provide all relevant documentation to your auditor so they can perform a financial and compliance audit before you lodge. You'll need to provide their SMSF auditor number (SAN) on your annual return when you lodge.
An audit is required even if the fund will pay no tax or is in pension mode. This includes funds that have had no contributions, income or payments made in the financial year.
Your auditor must be independent and registered with the Australian Securities and Investments Commission (ASIC).
Your auditor will advise you of any contraventions of the rules. You as trustee, are responsible for rectifying any contraventions as soon as possible. If you are unable to rectify a contravention you should lodge a voluntary disclosure.
You can contact us or visit our SMSF support services for help.
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