Most SMSF trustees understand that an annual audit is required – and many will have been through the process multiple times.
But what’s less visible is what happens behind the scenes, and where auditors actually focus their attention.
In this interview with Belinda Aisbett from Super Sphere, we go inside the SMSF audit process to highlight the issues that arise in practice. From valuation expectations and related party arrangements to common errors and documentation gaps, these are the areas where trustees are most likely to encounter problems.
For most funds, audits are straightforward. But understanding what auditors are really looking for can help trustees avoid unnecessary issues and ensure their fund stands up to scrutiny.
The information contained in this guide is general in nature.
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