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An accountant that I undertake SMSF audits for was approached to prepare accounts and SMSF annual return for the 2023 year. The accountant contacted the previous accountant (also a financial advisor) as a professional courtesy and requested supporting documentation in regard to a LRBA arrangement. He was advised by the previous accountant that they did not hold any documents and that they had been returned to the client (no soft copy records?). The client appears to maintain quite good records but had no LRBA records and no recollection of receiving any. I attempted to contact the previous SMSF auditor, again as a professional courtesy, and requested copies of LRBA documents. Despite several attempts at this request I have received no response other than a"no objections" email. Is there any suggestions as to how I can assist this client resolve this documentation dilema?
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The client can request copies of the LRBA documents from the financial institutions.