SMSF audits are necessary to keep in check your funds and help you save on taxes too. Most accounting firms who audit thousands of funds every year need SMSF auditors to outsource additional work so that they can get more done in limited time. Also people who own self managed super funds are unaware of the advantages of getting their SMSF audited by an authorised and professional SMSF auditor.
The key here is to get fast, reliable and cost-effective SMSF audit services where the process is streamlined and work gets done without any risks or hassle. We have prepared 6 things you must know about SMSM auditors and SMSF Audits before you outsource them:
One thing you have to keep in mind is the fee associated with your audit. SMSF auditors often charge depending on their years of SMSF auditing experience. If you want to keep your SMSF costs in your control and do not want to blow your own budget – hire SMSF auditors with flat fee. This way you pay a fixed amount to the audit firm and get your audit done with proper Australian Tax Office standards. Also you do not have to pay any hidden fee.
2. Easy Audit Process
The audit commencement procedure begins when you commission an auditor to review your SMSF. For tax and other purposes an approved auditor is needed. Also you want the process to be seamless and less tricky. Go for an auditor who believes in minimal paperwork and consumes little time.
3. Superannuation Industry Supervisory Act 1993
SMSF audit solution is mandatory because of the Superannuation industry Supervisory Act 1993. SMSF auditors here audit your managed funds and see the developments going on with it.
4. Quick Turnaround
A reliable and comprehensive SMSF audit takes about a week to finish. So you get a fast turnaround.
5. Expedites Regulatory Return
Another benefit is that an approved auditor helps you expedite regulatory return as well. New and improved ways can really add value to your funds and bring you happiness with your finances.
6. Minimal Paperwork
SMSF audits are not very much driven on the basis of paperwork. All the funds are audited with a streamline process and you get a reviewed audit report from the experts, which is compliant with Australian Auditing Standards.
Let us know if you need any SMSF Auditing help or you need an expert for your annual auditing. We are based out of Queensland and can take up subcontracting and outsourcing jobs related to SMSF auditing.
Want to know more about SMSF audits? Contact our experts on 1300 707 325 or [email protected] today.