FAQs

Question not listed? Please Contact Us to discuss your enquiry in strict confidence. 

What do I need to do to get started?
If you would like to proceed with using our services simply phone or email us to that effect. We will then send you a Terms of Engagement Letter outlining the terms in which we will work with you as the accountant.

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.
Back to Top

Will you contact my SMSF audit client?
Under our terms of engagement, we guarantee that we will never contact your clients. All correspondence and communication is undertaken with you, or your nominated representative from your office.
Back to Top

Who will be working on my SMSF audits?
Each member of our professional SMSF audit team are SMSF audit specialists with significant experience in SMSF auditing. They are all approved auditors under the SIS Regulations and are qualified to provide an opinion of the status of each fund they audit, including the fund's compliance.
 

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. 
Back to Top

What if I need specialist SMSF technical advice?
Sharlene Anderson, Technical Advisor, is an expert SMSF Specialist Auditor and a recognised industry leader on SMSF Audit. She is regularly invited to speak at Conferences held by the Institute of Chartered Accountants, CPA Australia and Television Education Network on a variety of SMSF audit issues.

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.
Back to Top

What is the Audit Portal?
Our Audit Portal is unique to SuperAuditors™ and can be securely accessed from our website. It provides a safe gateway that enables you to upload your SMSF documents through a direct connection from your computer to our server.

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.

For more information regarding APRA’s letter, read our News item .
Back to Top

Who can access to the Audit Portal?
As SuperAuditors™ works exclusively with accountants, financial planners and SMSF administration firms, access to the Audit Portal is provided to you and your nominated representatives only.
 

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.
Back to Top

Are scanned documents OK?
According to the ATO, scanned paper records into an electronic form are acceptable provided that the electronic copies are a true and clear reproduction of the original paper records.
 

SuperAuditors™ fully complies with the ATO standards of record keeping requirements under the tax laws that include:

1. record retention;
2. data security and integrity;
3. system documentation;
4. reatining archival copies; and
5. accessibility
Back to Top

What documents do I need to provide?
We are the first SMSF audit firm in Australia to develop and provide their clients with an online, customisable SMSF Audit Checklist called Checkforms. Checkforms is a purpose built web application accessed via our secure Audit Portal. It is easy to use and will save you time and money.
 

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.
You can save each Checkforms and update the list as many times as you like. Once completed, you simply click a button to email a final copy to our Audit Support Team.
Back to Top

How do I know what documents I have given you?
A list of all documents and the date they were attached can be securely viewed through the Audit Portal for each fund. There is no more second-guessing as to whether you have provided the requested information.
Back to Top

What file types can be uploaded through the Audit Portal?
The Audit Portal will accept any file type including files such as PDF, JPEG, XLS, DOC, TIF and ZIP files.
 

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.
Back to Top

Is there a limit to the size of the files that can be uploaded?
The Audit Portal allows a limit of 50MB per file enabling clients to lodge their documentation, including trust deeds, in one easy step. By using our document management system you will only have to upload 1 file to the Audit Portal.
Back to Top

Will you request a bank audit certificate?
In line with Australian Auditing Standards and best practice, we will request a bank audit certificate when the cash component of the fund is material. We will review the fund, determine if bank confirmation is necessary and then communicate this to you.

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.
Back to Top

When do you undertake property title searches?
We will obtain a property title search annually for all properties in the fund at the time of the audit, including those held in related unit trusts.

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.

Back to Top

Who prepares the Terms of Engagement Letter and Trustee Representation Letters?
We will prepare these letters and email them out to you within a few days of the audit being lodged on our Audit Portal. An “Authority to Obtain Information" letter is also sent out at the same time for signing. This assists us in being able to request Bank Audit Certificates and other information regarding the fund.

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.
Back to Top

What if I am seeing a client and need the letters urgently?
We provide you with an excel datasheet in our e-welcome kit which you will need to enter the SMSF and trustee details. Simply email the completed datasheet to us for urgent requests or, alternatively, you can enter all your SMSF clients’ details and we can provide you with the letters in advance.

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.
Back to Top

What is the fee if the fund is complicated audit or has material breaches?
We would be happy to provide a fee quote for those funds that will contain known material compliance breaches or are complicated.  In most cases, however, no additional charges will apply.

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.
Back to Top

What happens if there is a SMSF breach?
At all times we will provide you with an open channel of communication to discuss ways in which material breaches can be rectified.

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.
Back to Top

How does the 15 day guarantee work?
The 15 day guarantee includes the time when we are actively working on your SMSF audits. It does not include days where we are waiting for information to complete the audit. 
 

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.
Back to Top

How do I let my clients know that I am outsourcing my SMSF audits?
We can send you a standard letter that explains the benefits of outsourcing the audit function to your client and why you have chosen Super Auditors as your service provider. You may customise this letter to suit your needs.
Back to Top