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Re: SMSF Audit

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I'm new

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Replies 2

How often do i need to get my SMSF audited?

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ATO Certified Response

Community Manager

Replies 0

Hi @4IanW

 

Welcome to our Community.

 

@MegH is correct. The current requirement is that you have your self-managed super fund (SMSF) audited each year.

 

You must appoint an approved SMSF auditor to audit your fund each year, not later than 45 days before you need to lodge your SMSF annual return. The auditor examines your fund's financial statements and assesses your fund's compliance with super law.

 

When this needs to be done depends on when your SMSF annual return is due. Refer to the lodge SMSF annual returns page on our website for due dates and other lodgment information.

 

The auditor must be registered with the Australian Securities and Investments Commission (ASIC) and be independent. The ASIC website has a search SMSF auditior register page that can be used to verify the auditor's registration.

 

For more information, you can check out the appoint an SMSF auditor page on our website.

 

Hope this helps.

 

Thanks,

 

ChrisR

2 REPLIES 2

Initiate

Replies 0

Every year - in fact you can't lodge the tax return without having the audit done.

There was a proposal to allow some funds to only get audited every three years but that hasn't come in yet.  And there's no guarantee it will.

Most helpful response

ATO Certified Response

Community Manager

Replies 0

Hi @4IanW

 

Welcome to our Community.

 

@MegH is correct. The current requirement is that you have your self-managed super fund (SMSF) audited each year.

 

You must appoint an approved SMSF auditor to audit your fund each year, not later than 45 days before you need to lodge your SMSF annual return. The auditor examines your fund's financial statements and assesses your fund's compliance with super law.

 

When this needs to be done depends on when your SMSF annual return is due. Refer to the lodge SMSF annual returns page on our website for due dates and other lodgment information.

 

The auditor must be registered with the Australian Securities and Investments Commission (ASIC) and be independent. The ASIC website has a search SMSF auditior register page that can be used to verify the auditor's registration.

 

For more information, you can check out the appoint an SMSF auditor page on our website.

 

Hope this helps.

 

Thanks,

 

ChrisR