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Phuong Hoang Thi Ngo

Oct 24, 2022

Minute & Investment Strategy

in SMSF Technical Forum

Dear Sir/Madam,

Please help me your ideas

1/ The SMSF has the minute of Meeting of the Directors of the trustee when they set up SF package that also show resolved about Investment objectives, Investment objectives Strategy , holding insurance etc but does not show % of allocate assets.

I wondering whether still need an fund Investment Strategy or does this minute replace the fund Investment Strategy document?

2/ I did set up for an SMSF client in 2020 FY . Another auditor did audit this fund for 2 years 2020 & 2021 FY already . I cancelled SMSF financial advisor in 2021 FY and another auditor also cancelled SMSF auditor license two months ago . I wondering can I do audit for 2022 FY without fall audit independent

Many thanks

3 answers0 replies

Comments (3)

Phuong Hoang Thi Ngo

Oct 25, 2022

Dear Sir/Madam,

as Section 8.5.3 state ...."the auditor must exercise professional judgement and apply the reasonable and informed third party test to determine if any threats to independence exist."

Do you know where/ who the auditor can apply the test to determine dependence exist?

I will not do audit this fund, I ask for understand

Many thanks