SMSF Compliance Audit
SMSF, or Self Managed Super Funds, is a fund-saving method for retirement. The SMSF members are usually designated as the trustees, which makes it different from other fund types. The SMSF members or trustees run the fund for their benefit. Hence, they must comply with super and tax laws.
SMSF compliance audits are ATO regulated and are issued with a Notice of Compliance. However, SMSF management comes with various complications. Hence, trustees require experienced professionals to carry out the juggling act.
Airan is one of the most successful SMSF Auditors who has managed to stay on top of regulatory and compliance mandates, investment management, accounting obligations maintenance and keeping their clients abreast of government retirement policies. We take up all the tedious paperwork and complex compliance management, while the decision control remains in your hands. We also ensure to keep you up to date with regulatory changes.
Our SMSF compliance audit checklist involves the following:
- Preparing SMSF trustees for government checks
- Ensuring to avoid personal penalties
- Keep the trustees on top of their super balance
- Manage the tracking and reporting requirements
Manage your super SMSF with Airan Global Professional Expertise. Book an appointment today.
Financial Statement Preparation & ITR
We provide annual financial statement preparation and return lodging services for SMSFs. We ensure the auditing of our client's statements and return from an approved and independent auditor who is also a member of the Australian Securities and Investments Commission.
Bank Reconciliation
SMSF Outsourcing to Airan reduces the error risk with daily automated bank reconciliations. It also reduces the errors in verified asset positioning for solid reporting. Our technology-backed SMSF Auditors can virtually import any electronic format of any bank or custodian for importing in the system and carry out daily reconciliations.
Actuarial certificate
An Actuarial certificate is prepared by an actuary certifying an SMSF's earnings from its member's accumulation and retirement phases. We at Airan provide the service of deriving an actuarial certificate for its clients from a certified actuary and getting it to tax implicated. We ensure that our clients get the correct exempt current pension income after filing the fund's annual tax return.
Audit Process
Airan carries out the Audit Processes of SMSF efficiently and effectively. We carry out annual compliance and financial audits of SMSFs operations. We also provide the Self-managed superannuation fund independent auditor's report (NAT 11466) to trustees within 28 days of documentation's receiving.Why to Choose Airan ?
Airan Global is a leading provider of accounting and financial services, with a focus on helping small and medium-sized businesses succeed. we offer a range of benefits to our clients, including:
Data Security
At Airan, Data Security is of utmost importance. Therefore, we protect all our client's data by taking necessary measures like employing high-tech security firewalls, getting our employees to sign NDA etc.
On-Time Delivery
Airan is well-known for delivering SMSF auditor services on time without needing follow-ups from the client. It is because we believe in punctuality which is also one of the main reasons our clients choose us.
Cost Effective
We at Airan believe in delivering excellent services without putting a hole in your pocket. Our SMSF compliance audits comply closely with ATO and do not require you to spend much.
Cloud Storage
Airan provides cloud storage for all its SMSF auditor services. Such facilities ensure easy accessibility from anywhere for clients.
Frequently Asked Questions
How often should an SMSF audit compliance checklist be reviewed?
SMSF audits must be conducted annually, so the compliance checklist should be reviewed each year as part of the audit process.
What is the task of SMSF auditors?
An SMSF Auditor carries out an annual financial and compliance audit of SMSF operations and provides a Self-managed superannuation fund independent auditor’s report (NAT 11466) to trustees within 28 days.
How do I choose an outsourced SMSF accounting provider?
When choosing an outsourced SMSF accounting provider, it is important to consider factors such as the provider’s reputation, experience, pricing, and the scope of their services.
Who regulates SMSF auditors?
Australian Securities & Investments Commission (ASIC) regulates the SMSF auditors.
What does an SMSF accountant do?
An SMSF accountant deals with everything that has already happened in your SMSF. They take your previous financial year’s paper trail and use it for tax and record-keeping purposes. Besides SMSF compliance, they also help in lodging tax returns and some administrative tasks. We provide the best SMSF outsourcing services that will help you to manage your business operations smoothly.
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