263 paragraphs found
… or commercial, circumstances may exist where the SMSF’s tenancy lease agreement stipulates that the tenant is … to date and the beneficiary of the insurance benefit is the SMSF and not the tenant. …
… to obtain sufficient appropriate audit evidence regarding a SMSF’s investments managed by, or under a custodial … in accordance with the assessed inherent risks in the SMSF. …
… The auditor confirms that material investments of the SMSF have been recorded at the correct amounts and in the … documentation to confirm that no material asset of the SMSF has been excluded. This may extend to obtaining … they have provided a full disclosure of all assets of the SMSF and made available all records relating to those assets. …
… as may be contained in the governing rules of the SMSF. The SMSF may or may not have insurance for total and permanent …
… which the auditor has with respect to conducting SMSF audits, and to provide guidance to the auditor on … on the financial audit and compliance engagement of a SMSF. …
… The audit assertions with respect to a SMSF’s tax expenses and benefits include: Occurrence – … losses and any other offsets are attributable to the SMSF. Completeness – assessable income, including capital gains, received by the SMSF has been declared. Accuracy and valuation– assessable …
… Often, the audit plan for a SMSF takes the form of a template which can be used to … and SISR, the particular circumstances and nature of the SMSF and the audit evidence available. …
… To determine if the SMSF meets the definition of a SMSF, [138] the auditor may conduct procedures including: … trustees and their relationships with one another; testing SMSF payments to ensure no payments have been made to the …
… procedures on the balances and transactions of the SMSF reported by the service organisation, such as … by the service organisation with records maintained by the SMSF; and confirmation of balances or transactions recorded on behalf of the SMSF from the service organisation. …
… The SMSF’s financial report is prepared on the basis that the SMSF is a going concern. Under ASA 570, the auditor is … business risks which may cast significant doubt on the SMSF’s ability to continue as a going concern. [122] In …