Australia’s Leading Self Managed Superannuation Funds
Professional SMSF Auditing Services
AMW audits over 750 superannuation funds Annually
Superannuation or Self-Managed Super Funds are organisational pension programs that involve multiple parties coming together and pooling their financial resources in preparation. This is intended to be used during the retirement of the members. As such, transparency and security are major concerns that need to be addressed.
Through an SMSF audit, contributors can rest assured that their retirement money is being managed as it should be. An assessment will also show that those running the fund are compliant with regulations and tax laws.
AMW Audit caters to SMSF trustees, financial planners, and accountants for the yearly audit required by the Superannuation Industry (Supervision) Act of 1993 (SIS Act). Our experienced and highly competent auditors will ensure that the fund is being managed in accordance with this governing framework.
Are you managing Superannuation funds? Do you need help with auditing your financial statements? If so, reach out for a conversation to see how we can help you.
Why AMW Audit Is Perfect For Your SMSF Needs
AMW Audit is the leading audit-only firm in Australia that handles Superannuation funds for trustees and Australian Chartered Accountants. Our trained and dedicated team of auditors handle high-volume SMSF audit jobs on a yearly basis in a professional and competent manner.
Our goal is to make sure that your fund complies with all regulations introduced in 1993. We do this through a systematic approach of examining financial statements, verifying year-end balances, and business transactions, among others.
Guaranteed Independent Audit
AMW Audit is the top audit-only firm in Australia that provides services related to Superannuation funds that are guaranteed to be independent. This allows us to operate without the risk of being influenced by special interests involved in the fund.
Our independence also guarantees the credibility of our reports and the validity of our conclusions or recommendations. No AMW Audit personnel will have relations to the fund in any way, thus ensuring that there will be no conflicts of interest.
This also makes the accuracy of all reported meeting minutes, decisions, figures, and financial conditions unquestionable. All findings and conclusions will be based on the data and paperwork provided by the fund.
Licensed and Experienced Auditors
We employ registered SMSF auditors, one of whom is an SMSF Specialist auditor. Their training and experience ensure that all requirements will be met, all details are accounted for, and meeting minutes are reviewed carefully.
Trustee decisions are also verified, along with pension requirements compliance, investment strategies, and market values. This is a standard part of our auditing process, which is designed to authenticate fund records and financial statements.
It is also intended to make sure that the SMSF is in compliance with the standards that apply to the fund itself.
Hundreds of SMSF Funds Handled Annually
AMW Audit handles nearly 750 Superannuation fund cases every year, thus providing our auditors with a considerable amount of experience in SMSF auditing. Client feedback has always been satisfactory thanks to our upfront rates and efficient auditing process.
We value your time as much as we value ours. We are meticulous in our assessments, reviews, and investigations, but we also get it done in a timely fashion. Our team of expert auditors make it a point to meet the demands of trustees and SMSF accountants within the timeframe that we provide.
Australia’s Best SMSF Audit Service Provider
AMW Audit’s highly experienced and dedicated SMSF auditors are up-to-date on new laws regarding super funds and their various market regulations. Every fund that we handle is compliant with the 1993 SIS Act, meticulously audited, and comprehensively reported.
AMW have been our preferred audit firm for SMSFs and other audits for many years. We have always been impressed by the team’s expertise and understanding of auditing issues.
AMW Audit Self Managed Super Fund Audit Process
AMW auditors are quite fastidious with our examination process of Superannuation funds where hundreds of SMSFs are assessed for SIS Act compliance. This is necessary to ensure that the fund is being administered properly and that there are no violations of regulations and tax requirements.
Obtaining Relevant SMSF Documents
Once a fund’s accountants, trustees, or financial advisors contact AMW Audit, the first step of our process is to ask for relevant documents to be sent over. Among the relevant forms that require submission by funds that are operated under the Australian Prudential Regulation Authority (APRA) are:
- Statement of Financial Performance
- Statement of Financial Position
- Selected Disclosure of Investments
- Derivative Financial Instruments
- Exposure Concentrations
- Transactions with Associated Parties
- Membership Profile
- Superannuation Entity Profile
- Trustee Statement
Along with those, documents detailing signed cheques, the assigning of roles and duties, as well as the accompanying receipts must be provided.
Verifying Trustee Details
Another point of concern when we conduct an audit of Superannuation funds is the confirmation of details with regard to Trustee decisions, meeting discussions, and other financial activities. Our auditors will be carefully scrutinizing all of the information they contain to ensure that there are no discrepancies.
Examine Financial and Compliance Paperwork
The examination of the relevant documents that our auditors will assess will involve both the financial components and the compliance aspects of the fund. For the former, this includes:
Current Financial Statements and Income Tax Returns
- The fund’s general ledger
- Current year’s bank statements
- Fund assets record
- Rates for properties
- Property market valuation
- Copies of property lease agreements if such assets exist
As for the compliance components of the required documentation, these would include:
Copies of membership applications
- Copies of Trustee consents
- Membership list
- In the case of corporate trustees, the most current ASIC annual statement of the trustee must be included
- Relationship details pertaining to member trustees involving employers and employees
- Copy of APRA
- Copy of the year’s signed Minutes
- Copy of pension fund payment details for the year
AMW Audit will take all of these documents, along with others, for a thorough audit. Once everything has been confirmed to be above board and compliant. Our membership with the SMSF Association also allows us to keep up with changes in the laws and regulations pertaining to super funds.
Our auditors’ training is also up-to-date, which guarantees optimum productivity and compliance.
what our clients say
We have been using the audit services of AMW to complete our annual AFSL obligations for the last 5 years and would highly recommend their service to all, they are well priced, both practical and reasonable in their approach to small AFSL holders, and efficient at turnaround times.
We have always been impressed by the team’s expertise and understanding of auditing issues. They have a personal, proactive approach and are always available either via telephone or email.
The Principal/Director, B J Thomas, is approachable and is commercially minded. He is very professional and always gives clear advice in a prompt and efficient manner.
AMW are an impressive team which delivers on their promises and are stand out performers in the sector.
AMW came to us highly recommended and have conducted our last two audits of the college’s financials. They are highly professional and have developed a good understanding of schools and their processes. Their team are a pleasure to work with. I have no hesitation in recommending AMW to other schools for the purpose of conducting an audit and the preparation of financial statements.
Contact Us Now For A Professional Online SMSF Audit
For the best SMSF audit services, get in touch with us and we will do our best to accommodate your needs. Our licensed and qualified auditors are ready to help your fund succeed and protect your fund’s trustees.
Please book a call with our team today on 1300 284 330.