SMSF Audit FAQs
Answers to common questions about SMSF audits, fees, turnaround times, audit requirements and working with Simple Auditing.
Frequently Asked Questions About SMSF Audits
Find answers to common questions about SMSF audits, auditor independence, audit queries and working with Simple Auditing.
Our standard SMSF audit fees generally range from $300–$400 + GST per fund, depending on the fund and audit requirements. Volume pricing is available for accounting firms and SMSF administrators managing multiple funds. Normal audit queries and resolution are included in the fee.
SMSF audits are generally completed within 3–5 business days from receipt of complete documentation. Turnaround times may vary depending on the complexity of the fund and whether additional information is required.
The documents required will depend on the fund and its investments. Generally, we require the SMSF financial statements and relevant supporting documentation. We keep document requests clear and practical to help the audit progress efficiently.
An SMSF audit covers both the fund's financial information and relevant compliance requirements. We review the financial statements, supporting documentation and relevant compliance matters before completing the audit reporting.
Independence is an important requirement of the SMSF audit process. An independent auditor provides an objective review of the fund's financial information and relevant compliance matters, separate from the preparation of the fund's financial statements.
Yes. We regularly work with accountants and SMSF administrators as part of the SMSF audit process. We communicate audit queries and information requests clearly and work constructively with your team to help keep the audit moving efficiently.
If an audit issue is identified, we communicate the matter clearly and explain what information or action may be required. Where appropriate, we provide practical professional support to help your team understand and resolve the matter efficiently.
Yes. Clear communication is an important part of our audit service. Audit-related queries and normal query resolution are included in the audit fee, and we're available to discuss outstanding matters to help keep the audit progressing efficiently.
No. Simple Auditing's SMSF audit work is completed onshore in Australia and is not outsourced overseas. This supports clear communication and a consistent approach throughout the audit process.
Yes. We work with accounting firms and SMSF administrators managing multiple funds and ongoing SMSF audit requirements. Our structured audit process supports consistent audit quality, efficient turnaround and clear communication across larger audit volumes, with volume pricing available.
Still Have a Question About Your SMSF Audit?
Can't find the answer you're looking for? Talk to Simple Auditing about your SMSF audit requirements or any questions about our audit service.