Audit

Morrows provides a stand alone service for auditing SMSFs. SMSFs audits must be conducted according to Australian Auditing Standards. Auditing Standard AUS 202 Objective and general principles governing an audit of a financial report states that the auditor should comply with the ethical requirements of CPA Australia and The Institute of Chartered Accountants in Australia. The ethical principles governing professional responsibilities as an auditor include independence, integrity, objectivity, professional competence and due care, confidentiality, professional behaviour and technical standards.

Morrows SMSF audit service reviews that: 

• the SMSF meets the definition and that it is a regulated fund; 
• the sole purpose test is passed; 
• the fund complies with investment strategy and investment restrictions; 
• the contribution and benefit payment standards are adhered to; and 
• the Trustees are carrying out their administrative obligations imposed under the legislation.

Contact us if you require Morrows to assist you in auditing your SMSF.

Use this checklist as a guide to compile the information required for an audit.

Download our Audit Checklist (pdf version)
Complete an Audit Checklist online