1/ Does auditor really need to know and keep record TFN of member of SMSF for audit? (whether members contributions )
2/ How many days maximum auditor have to send Auditor Report copiers to trustees after completed audit date? Could you please show me where I can find out rules for this?
Much appreciate for your help
Thanks a lot
Hi Phuong
The auditor is not required to keep or record the personal TFN's of a member of a SMSF.
Audit report must be given to trustees within 28 days of them providing the relevant paperwork.
Section 35C(6) of SIS states that:
"The auditor must give the report to each trustee of the entity within the prescribed period after the end of the year of income."
Regulation 8.03 of SIS states:
"For subsection 35C(6) of the Act, the period within which a report mentioned in that subsection must be given is 28 days after the trustee of the fund has provided all documents relevant to the preparation of the report to the auditor. "
Thanks
SMSF AAA