Show download pdf controls
  • Reporting requirements when finalising an SMSF audit

    When auditing a self-managed super fund (SMSF), if you form an opinion that a contravention has occurred, is occurring, or may occur, you should qualify the SMSF independent auditor's report. If it is a reportable contravention, you must also report this to the trustees in a management letter and to us in an Auditor/actuary contravention report (ACR).

    Reporting a contravention must be done immediately after you have formed your opinion. Failure to do so can result in a penalty of 50 penalty units (currently $210 per unit). If the contraventions haven't been rectified, the trustees should also consider making a voluntary disclosure to us and include a rectification proposal.

    Our super Professional-to-professional support service can help if you need technical assistance with complex matters during an SMSF audit.

    See also:

    Keep up to date:

      Last modified: 14 May 2019QC 58894