Saul SMSF is one of Australia’s most trusted independent SMSF auditors.
We build strong client relationships by communicating clearly and maintaining professional independence.

ATO requirements for trustees of SMSFs

The Australian Tax Office (ATO) requires the trustees of an SMSF to appoint an approved SMSF auditor to audit their fund each year (at least 45 days before they are required to lodge the SMSF annual return). An audit is required even if no contributions or payments are made in the income year.

Your SMSF auditor must be independent

Since 1 July 2013, SMSF trustees must appoint an approved SMSF auditor registered with the Australian Securities & Investments Commission (ASIC). Your SMSF auditor must be independent. They cannot be a trustee or member of the fund nor the person who prepared the SMSF accounts.

Saul SMSF is an independent auditor

Saul SMSF meets the independence requirements of the Code of Ethics for Professional Accountants, Section 290 of APES 110, which applies to all auditors of self-managed super funds.

The benefits of REAL audit independence

All SMSFs must comply with ATO regulations. There are challenges in completing independent audits for an accounting firm that is also responsible for preparing the accounts and the trustees of a SMSF. Addressing issues with clients can be difficult when funds do not comply. 

Real audit independence:

  • provides key benefits to the accounting firm preparing the accounts. Keeping at arms’ length from the audit process allows the accounting firm to work with the auditor to identify compliance issues and also with the client to address compliance issues without straining the client relationship.
  • improves long-term compliance of SMSFs as trustees are provided with frank and honest feedback. This reduces risk for accounting firms and also provides peace of mind through knowing that the funds have been thoroughly scrutinised. We maintain and respect the relationship that accounting firms have with their SMSF client.

Saul SMSF, as a specialist auditing firm, keeps completely up-to-date with changing legislation and we are always fine-tuning our systems. These make sure we provide quality, value and efficient service.