Our firm harnesses the efficiencies of the internet to provide a seamless means of interaction between ourselves, you and your team, and the fund’s trustees.
Located in Brisbane, SMSF Audit Online is an independently owned and operated SMSF audit firm servicing the needs of accountants and financial advisors right across Australia. The firm’s principal is a licenced SMSF auditor Brisbane, and Public Practice Certificate holder with CPA Australia Ltd. Please contact us directly for our fund auditor registration details. We do not publicise these online for fraud prevention purposes.
Auditor independence has had a renewed focus from the Accounting Professional and Ethical Standards Board (APES Board), and from the Australian Securities and Investments Commission (ASIC).
The APES Board approved revisions to the Code of Ethics for Professional Accountants (APES 110) with the changes effective from 1 January 2020, with several clarifications and a tightening of auditor independence requirements.
Following the changes made to APES 110. ASIC issued updated independence guidance to Australian Auditors in their Independence Guide fifth edition, issued in May 2020.
The revised Independence Guide includes a range of changes that SMSF Auditor Brisbane must familiarise themselves and comply with.
In particular, Chapter 8 of the Independence Guide makes it clear that an SMSF auditor Brisbane cannot audit an SMSF where the Auditor, their staff or their firm has prepared the financial statements for the SMSF.
These changes effectively do away with the old ‘Chinese Walls’ approach that has previously been adopted by multi-partner firms. One partner prepares the accounts and tax returns of the SMSF, whilst his or her partner performs the audit function.
The ‘you must not only do the right thing, you must also be seen to be doing the right thing’ principle has caught up with SMSF Audits..
The benefit of engaging SMSF Audit Online to provide your SMSF audit services is that independence will not be in question moving forward. We are independent of all SMSF accounting and taxation providers, and only provide audit services to third party accounting firms and financial advisors. You can rest assured that we will work well with you, providing the assurance of an independent third party. Audit queries will raise through the accounting firm to the Trustees. So that the accountant is in the loop with all matters raised. It is able to liaise with Trustees where necessary to resolve any outstanding issues.
Our web based procedures and work programs assure that we deliver you and your clients an efficient, effective audit that complies with APES 110 independence requirements and Australian Auditing and Assurance Standards every time.
All of your client’s data and supporting documentation are stored on servers in Sydney, NSW, which use the highest standards of firewall and internet security technologies. In order to ensure the protection of your clients’ privacy.