Frequently Asked Questions
We’ve answered some of the most common questions from accounting firms and SMSF administrators to help make the audit process clear and straightforward.
How long does an SMSF audit take?
Most SMSF audits are completed within 3–5 business days once all required documentation has been received. Complex cases or incomplete files may take longer, but we always aim to work efficiently and communicate any delays early.
What documents are required for an audit?
Typically, we require financial statements, member statements, bank statements, investment reports, trust deeds (if applicable), and any supporting documentation relevant to contributions, pensions, or transactions. A detailed checklist will be provided upon engagement.
How do you handle audit queries?
We take a practical and efficient approach to audit queries. Where issues arise, we communicate clearly with your team and work collaboratively to resolve matters quickly, focusing on solutions while maintaining full compliance.
What happens if issues are found during the audit?
If issues are identified, we clearly outline the findings and work with your accounting team to determine the most appropriate resolution. Our focus is on resolving matters efficiently while ensuring compliance with SMSF regulatory requirements.
What software do you use?
We are compatible with a range of SMSF and accounting systems including Class, BGL Simple Fund 360, Xero, Excel-based files, and other commonly used formats. This allows us to integrate smoothly with your existing processes.
How do accounting firms submit files?
Files are typically submitted electronically via secure file-sharing methods. We will confirm the preferred submission method upon engagement and ensure the process is simple, secure, and efficient for your team.