I am actually auditing a fund for the 2016 financial year. The fund was wound up (as per tax return) but no Deed of Winding up or Minutes to wind up the fund were prepared. The fund had only about $200 in bank account and no other asset. I may prepare a disclaimer of opinion report for part A (because the trustees do not have the bank account statements for the period 01/01/2016 - 30/06/2016). However, could you give me your opinion on how to you qualify Part B? What section have been breached?
Thank you very much in advance.
In relation to missing bank statements the SIS Act section you are looking for is S35AE - trustees are required to keep documents supporting transactions for at least 5 years after to occurrence of said transactions.