Australian government is very strict about following rules and regulations by self managed super funds and therefore has made mandatory for all such funds to have their books of accounts checked once a year to ensure that all rules and regulations as set by the government are being followed by the fund owners.
Instead of getting your accounts checked by government regulators and paying hefty penalties, it is better to pay a small amount of money to the best auditors of self managed super funds to get your accounts audited by them and get the anomalies straightened before they go to the government.
These auditors are professionals in the field and know all rules and regulations regarding self managed funds. From their experience they know the areas where you are likely to make mistakes and the regulations that you are most likely to skip.
Apart from helping you skip the penalties for various different reasons by the government authorities, these auditors also help you in many other ways listed below.
Protect yourself and your fund with SMSF audit
Australian government is very strict with regards to funds following rules and regulations as stated by the government. Any fund caught not following rules and regulations are heavily fined and penalized. Therefore, it is in your best advantage to get yourself-managed fund audited by the best SMSF auditors so that your accounts are crystal clear before they go to government for annual check.
SMSF audits are not expensive
It is a myth that SMSF audits are very expensive and charge you highly to get your accounts cleared. In contrast to this, I care super are a very professional and customer friendly firm that believes in customer service and long term relationships. For the convenience of customers, they have many different packages for different types of services. They charge only for the services asked by the customer and will advice you best ways to make error free financial accounts.
Make your fund regulatory compliant
Compliance audit is as important as financial audit for any self managed fund. This audit is conducted to determine that all the trustees are compliant with specific requirements of SISA and SISR.
Why should you engage best auditor for your Self managed super fund?
Self managed super funds cannot be audited by anyone and everyone. In order to audit a SMSF, an auditor needs to be registered with an ASIC and meet the minimum education, experience and competence requirements as set by ASIC and carry adequate professional indemnity insurance.
These specifications and more are not easy to comply and only the best auditors have the required expertise and experience behind them to carry audits at SMSF.
iCare Super is a very professional company that has some of the best and experienced SMSF experts in house that can advice you on how to carry on your functions at fund and also have the best in trade financial experts to help you prepare your accounts and audit them as well.