Superannuation Fund Audit Checklist

Superannuation Fund Audit Information Checklist Other information may be required depending on the funds specific circumstances – Martin 6214 3904 (Dir) Financial Statements Contributions  Copy of Financial Statements;  Copy of employer minutes/notices/letters  Trial Balance; notifying SMSF of contributions paid by  G/L printout employer.  Copy of prior years audited Financial Statements(if applicable) Income  Copy of ASIC printout showing directors &  Copy of Dividend/Trust Distributions members of the corporate trustee (if applicable) statements;  Work papers for any income accrued/receivable; Investments  Copy of rental income/expenses statements from  Copy of the fund’s investment strategy (which as real estate agents for rental properties owned of Aug2012 must consider whether member insurance is appropriate; Expenses  Bank reconciliation as at 30/6 (if applicable);  Copy of invoices for expenses paid (all if there  Copy of the funds bank statements/Passbook are only a few expenses? or material expenses if Accounts for full year there are many, ie Life Insurance premiums etc);  For investment in shares – Chess statements/share certificates; Accounts Receivable/Sundry Debtors  For investments in listed Unit Trust –Trust  Details of accts receivable/sundry debtors along Certificates; with supporting documents  For investments in associated/unlisted Trust – copy of financial statements; Transfers –in/out  For Investments in listed managed Funds – copy  Any documentation to support transfers in and of the Portfolio valuation statement and income transfers out of the fund e.g Termination and expenditure statements Statements/ETP Roll over Forms, share transfers  Copy of any lease agreements etc;  Copy of the O&A & Settlement Statement for Administrative Matters any property purchased/Sold  Copy of Superannuation Fund Deed;  Copy of the title deed for any unencumbered property  Copy of any amendments to the trust deed ;  For investments in cars/ paintings/ wine etc,  Copy of consents to Act as Trustees; copy of the valuation certificate every 3 years  Copy of Sec 290-170 Notices; and purchase invoice/s, also need minute stating  Copy of Register of Members & Trustees; no personal use. For Real Estate a curb side  Minutes re the Funds Investments decisions appraisal every 3 years.  Copy of Building Insurance for any properties held in the superfund Account Payables/Accruals  Copy of the current life insurance certificate for  Details of any sundry creditors along with any life insurance policies owned by the supporting documentation; superfund  Copy of any loan agreements  Copy of superfund minutes detailing the contributions received during the year for each Tax member  Copy of Notice of Complying fund status from  Copy of all other superfund minutes ATO;  Printout from ASIC portal (from logging in as  Copy of Income Tax Return; registered agent), for the corporate trustee  Copy of Tax Reconciliation Worksheet company the organisational details showing  Copy of Superannuation Surcharge Notices (if directors, shareholders, registered office, any); principal place of business, etc.

Initial Engagement  A CD or one of our staff can come into your office to collect by soft copy (USB) or photocopy all Deeds, Consents, or Notices.