I act for other professionals and accountants in auditing their client's SMSFs.
when I receive the work for a newly formed super fund to audit, am I ,as auditor,required to obtain an assurance that
the trustees have sought indepedant financial advice in regard to establishing the fund . Is this a point
to be covered in my audit report /opinion?
Hi Mike
There is no requirement for the auditor to check that the trustees of a new SMSF have sought independant financial advice re establishing the Fund.
Thanks
The Auditors Institute