SAAS Audit has a long standing reputation for providing efficient, effective and truly independent audit support for accountants and administrators in the audit of Self Managed Superannuation Funds. SAAS Audit has a dedicated team to manage the audit work with both Gary Smith and James Kenward being registered superannuation auditors.
How SAAS AUDIT works
SAAS AUDIT currently has established relationships with Accountants and Administrators and often provides guidance on audit and compliance requirements in the form of checklists and designated forms for trustee declarations and disclosures.
The audit of a SMSF comprises a financial audit of the fund in order to establish that the financial report is not materially misstated together with a compliance audit which assesses SIS compliance.
SAAS Audit provides general advice and refers any specific issues arising on individual funds, if necessary, to an external specialist McPherson Super Consulting Group. SAAS Audit works with its clients and trustees to resolve issues and deal with potential breaches in an open communicative environment prior to issuing any contraventions.
SAAS Audit provides a specialised audit service utilising Caseware as its primary tool. All audit files are now electronically stored and the audit is completed on-line with a minimum of fuss and process. Caseware have developed an integrated software package designed to streamline the audit process and move to a fully electronic platform.
Monitoring
The superannuation industry is monitored closely by the Australian Taxation Office and regulated by ASIC. The role of the administrator is to assist the Trustees in compiling a financial report and to provide specific advice on the management of the fund.
The primary focus of the audit is ensure the financial report is not materially misstated and to ensure compliance with the legislation and to report to ASIC and the ATO on contraventions by trustees. Trustees are advised to consult with their accountants and auditors in a proactive environment.
Independence
SAAS Audit prides itself on the its audit independence being an audit only firm and can provide the assurance necessary to both Trustees and Administrators by performing a watchdog role on the activities of the fund.
SAAS Audit is cost competitive in this SMSF arena with streamlined processes. On request we can provide a structured fee base for our superannuation audits. SAAS Audit can help you or your clients in ensuring their superannuation savings are effectively controlled and properly managed and their fund is fully compliant.
