Hi

I am auditing 2021 FY for XYZ Super Fund and found that there were a few amounts transferred out of the fund's bank account in April/May 2021 amounted to $360,000. They are recorded as accidental payments in Sundry Debtor.

I have questioned the the nature of these payments, as to who and for what purpose. I haven't yet heard from the accountant.

It could potentially in breach of Section 65 providing financial assistance to member's and relavtives and Section 52(2)(d) failure to keep its assets separate from trustee's personal assets if they were legitmately accidental payments which were then transferred back as soon as they realised the error. Given the trustee should have different access to the fund's bank account and not to mix up with his personal or other business accounts he has access to.

I am hoping the that $360,000 had been transferred back and rectified so I can lodge a ACR with rectification.