With the bulk of SMSF annual returns (SARs) due on 15 May, you need to stay alert to SMSF auditor number (SAN) misuse.
Do not report in the SAR that an audit is complete when it is not, just to meet your client's due date.
Before you lodge, make sure the auditor has signed and dated the SMSF independent auditor's report (IAR) and the trustees have received a copy of the report.
If the audit will not be completed in time, seek an extension of time to lodge. Do not use an auditor's SAN before the audit is complete. This amounts to SAN misuse.
Take extra care if you use software to complete the SAR. Some products carry over the previous year's auditor details. If the fund has changed auditors, check that the SAN and auditor details are correct before you lodge.
We take SAN misuse seriously. We may refer agents who deliberately misuse a SAN to the Tax Practitioner Board (TPB) for treatment.
Auditors can also check for SAN misuse by requesting a list of audits linked to their SAN through Online services for business. To find out more, visit SMSF auditor number (SAN) misuse.
Before you lodge, confirm that the audit is complete, the auditor has signed the report, and the SAN details are correct.
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