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What do I need to do to get started?
Once we have received the signed letter, we will send you an E-Welcome Kit containing secure login details to our Audit Portal, procedures and other information to help you to use our service.
Will you contact my SMSF audit client?
Who will be working on my SMSF audits?
Your auditor will report their findings in writing addressed to the trustees, highlighting any financial and compliance issues with the fund, as well as reporting any relevant contraventions to the regulator.
At the end of each audit, an email will be sent to your firm containing a pdf copy of the audit report, audit management letter and our invoice.
All of our auditors live and work in Australia. We do not outsource any aspect of our service to third party providers or overseas. This ensures that the privacy of your client's information is fully secure and safe.
What if I need specialist SMSF technical advice?
Sharlene has been a member of the SuperAuditors™ Team since September 2009. During this time, she has actively managed and found resolutions to complex SMSF audit issues for many of our clients.
In addition, Sharlene is also responsible for ensuring our systems and programs comply with both the audit standards and the professional quality assurance requirements.
What is the Audit Portal?
There are no third party providers or cloud environments used. This protects the confidentiality and integrity of the information you upload and complies with legislative and prudential requirements. All documentation is directly uploaded to our secure server located in Australia.
In late 2010, APRA issued a letter to all trustees advising them to be aware of the need for proper risk and governance processes for outsourcing, including cloud computing. This issue does not affect SuperAuditors™ clients as we do not outsource any aspect of our service to third party providers either in Australia or overseas.
Who can access to the Audit Portal?
This is set up to best suit the operations of your firm. Each firm can have multiple logins depending on the number of staff required to access the portal. All users can easily see a list of your firm’s audits lodged onto the Audit Portal, with multiple access also provided to checkforms,-our online SMSF Audit Checklist.
Are scanned documents OK?
SuperAuditors™ fully complies with the ATO standards of record keeping requirements under the tax laws that include:
1. record retention;
What documents do I need to provide?
Checkforms allows you to create a customised SMSF checklist for each client, then email a report outlining the list of outstanding documents still required. This list can be used in the office or as a communication tool with your SMSF client.
How do I know what documents I have given you?
The system cannot, however, open any files that contain special characters in the filename such as @#$%^&*. Under these circumstances, we will contact you and request that you rename the file and resubmit the document through the Audit Portal.
Is there a limit to the size of the files that can be uploaded?
Will you request a bank audit certificate?
This includes, but is not limited to, confirmation for bank accounts, cash management trusts, term deposits, wrap accounts, managed funds, brokerage and fixed interest accounts.
We will request your client sign an ‘Authority to Obtain Information’ letter and then prepare the request, mail it out and follow up the bank or financial institution on your behalf.
We have developed an extensive database of key contacts and procedures for large banks and most financial institutions in Australia. As a result, our Audit Support Team has been successful in significantly reducing the average turn around times for bank audit confirmations.
We do this to ensure that there is no mortgage on the property, which is especially important in light of the current economic environment. It also confirms that the trustees have been correctly registered on the title.
The cost of the search is included as a disbursement on the final invoice, which varies from state to state. The average cost is approximately $20.
At the same time, we will also advise you whether there are any other documents we require in order to continue the audit. The audit is then placed on hold until we hear from you with the signed letters and information.
What if I am seeing a client and need the letters urgently?
All letters are emailed back within 1 business day, although we have provided letters within the hour on many occasions.
As an added service, we will upload all client letters at the beginning of July each to year to the Audit Portal for those SMSF clients that we have audited during the previous year.
This provides you with access to your client letters during the year, which can be downloaded at your convenience.
What is the fee if the fund is complicated audit or has material breaches?
SuperAuditors™ guarantees to keep their clients informed about any breaches that may arise. Any additional hours required to resolve these breaches will not be undertaken by Super Auditors without prior agreement.
What happens if there is a SMSF breach?
Our Technical Advisor, Sharlene Anderson, has significant experience in dealing with material SMSF breaches and works exclusively with our clients to provide technical, strategic and SIS compliance advice at all levels.
How does the 15 day guarantee work?
We will contact you each time we put the audit on hold and advise what day the audit on. A status report displaying this and other information can be viewed online securely through the Audit Portal.
How do I let my clients know that I am outsourcing my SMSF audits?
Locked Bag 5
Adamstown NSW 2289
Phone: 1300 738 288