The pillars of quality audits
SaulSMSF is one of Australia’s most trusted independent SMSF auditors. We build strong client relationships by communicating clearly and maintaining professional independence.
ATO requirements for trustees of SMSFS
The Australian Tax Office (ATO) requires the trustees of an SMSF to appoint an approved SMSF auditor to audit their fund each year (at least 45 days before they are required to lodge the SMSF annual return). An audit is required even if no contributions or payments are made in the income year.
Your SMSF auditor must be independent
Since 1 July 2013, SMSF trustees must appoint an approved SMSF auditor registered with the Australian Securities & Investments Commission (ASIC). Your SMSF auditor must be independent. They cannot be a trustee or member of the fund nor the person who prepared the SMSF accounts.
SaulSMSF aims to provide a high quality audit service that builds your reputation. Our focus on communication and our core values of strength, integrity and reliability have helped us to become a trusted auditor for many firms and individuals. In contrast to many new SMSF auditors entering the industry in Australia, SaulSMSF is an established and highly experienced firm.
Our longstanding relationships with accounting firms and their clients gives us a clear understanding of their needs and insights into meeting their expectations.
How to recognise value from your SMSF auditor
SaulSMSF provides a highly efficient and expert service at a competitive price. Variation in SMSF audit fees sometimes makes it difficult for accountants, advisors and trustees to recognise good value for the fee charged.
SaulSMSF has a transparent fee structure based on the size of the SMSF and the level of complexity of the audit. We inform clients up-front of the fee of service for audits. We also advise clients in advance if there is likely to a variation in fee in the audit. Because we are very aware of the fee sensitivities associated with SMSF audits, we maintain a strong emphasis on efficiency and timeliness. However, maintaining a high level of integrity and independence is not compromised. Therefore, our service always represents good value.
SMSF value checklist
Here is a short checklist of important questions to ask if you want a quality and cost-effective SMSF auditor:
is the auditor qualified and with a depth of experience to give wise advice
is the auditor able to guide you through tricky situations towards a pragmatic solution?
is the auditor compliant with the Privacy Act for personal information?
does the auditor have the correct levels of professional indemnity insurance?
does the auditor have efficient applications and systems to reduce administration charges?
is the auditor a specialist with a high volume of work that creates economies of scale?
Is the auditor genuinely independent?
We focus all our professional effort at SaulSMSF into maintaining the knowledge, skills and qualifications needed to provide high quality SMSF audit service. Specialist SMSF auditors need strong accounting and superannuation capabilities to be able to properly service accountants and, on their behalf, their clients. David Saul, the Managing Director of SaulSMSF, has over 20 years’ experience with SMSFs. He is a long- time member of the Self-Managed Super Fund Association of Australia Limited (SPAA). SPAA is one of the peak bodies for SMSF professionals.
David is among the first advisors in Australia to achieve the SMSF Specialist Advisor™ accreditation from SPAA. David is also a member of the Institute of Chartered Accountants in Australia (ICAA), one of the leading groups of accounting professionals.
David Saul has been recognised in the industry for his standard of professionalism, wining Auditor of the Year 2018 and Finalist in 2019.
Professional ethics and integrity
SaulSMSF is a specialist audit practice that holds a public practice certificate with the Institute of Chartered Accountants in Australia (ICAA). Our staff hold specialist accreditation with SPAA. We actively observe the following standards of conduct:
Integrity, Objectivity & Professional Behaviour
Respect for Client Relationships
We provide efficient service by focusing on your needs and carefully managing our service delivery. Our dedicated client portal and workflow management system, helps make sure we receive and complete your audit with a 2-week turnaround. Our platform combines a state-of-the-art cloud-based software application together with our strong service standards.
Regardless of the accounting system you use, we can automatically integrate the data seamlessly. The result is an efficient method of managing all stages of the audit process.
You receive real time access to reports on your clients’ audits—including their workflow status and compliance history.
What are the key benefits of the SaulSMSF process?
Secure platform for providing your clients’ data to us online
Real time access to workflow and fee tracking reports
Direct access to compliance history reports for risk management
Streamlined workflow means more time to advise you and your clients
How does the SaulSMSF portal work?
We provide a stepwise process and workflow that streamlines our audit process:
On agreement to proceed, we will issue you with an Audit Information Checklist and Login Details to our secure portal.
Using the SaulSMSF portal, securely transmit your SMSF administration package, including source data and fund’s permanent records, to our website. This gives us instant, secure access to the SMSF data so we can immediately start work on your client’s audit.
As you provide client files online, we send you direct confirmation of jobs received.
Within 48 hours, we will contact you to discuss any queries, confirm turnaround time and confirm the estimated fee for service.
The audit will be completed by our experienced and qualified staff (all based in Australia).
We will contact you with any further queries. If we believe that the turnaround time or estimated fee may change for any reason, we will advise you and request instructions.
When the work has been completed, you will receive an email with instructions for the retrieval of the audit report. If further discussion is required, we will contact you directly.