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New service to help SMSF auditors prepare for ATO/ASIC audit

DBA Lawyers has significant experience advising and representing approved SMSF auditors who are being audited by the ATO or who have been referred to ASIC.

The ATO has an approach of auditing and reviewing approved SMSF auditors. If the ATO is not satisfied, they may refer the approved SMSF auditor to ASIC. ASIC then has a variety of options, including disqualification. The ATO’s most recent figures indicate that the ATO are referring to ASIC more approved SMSF auditors than ever before.

DBA Lawyers has built up a bank of practical experience. DBA Lawyers is well placed to assist approved SMSF auditors during an audit.

However, DBA Lawyers also wishes to assist auditors before an audit. We wish to help the auditor ensure that when/if the ATO audits their files, the ATO will be quickly satisfied.

Accordingly, DBA Lawyers has just launched a special fixed-fee service to assist approved SMSF auditors prepare for an ATO audit.

This special service consists of the following:

  • DBA Lawyers replicates its own version of an audit of several of your SMSF audit files. DBA Lawyers bases this on experiences from many ATO audits of approved SMSF auditors. DBA Lawyers requests several of your audit files, along with certain other information, similar to ATO audit. DBA Lawyers carefully analyses what you provide.
  • DBA Lawyers applies a 50+ point checklist. This checklist addresses the top issues that DBA Lawyers has noticed cause problems for auditors.
  • DBA Lawyers issues written feedback designed to ensure you know what changes might be necessary to your practice.
  • DBA Lawyers meets with you via MSTeams to discuss its findings and the written feedback.

Fee (before 15 September 2023): If you engage DBA Lawyers before 15 September 2023, the fee is $2,200+GST. After that date, the fee will significantly increase.

See here for further information.

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This article is for general information only and should not be relied upon without first seeking advice from an appropriately qualified professional. The above does not constitute financial product advice. Financial product advice can only be obtained from a licenced financial adviser under the Corporations Act 2001 (Cth).

Note: DBA Lawyers presents monthly online SMSF training. For more details or to register, visit www.dbanetwork.com.au or call 03 9092 9400.

For more information regarding how DBA Lawyers can assist in your SMSF practice, visit www.dbalawyers.com.au.

By Bryce Figot ([email protected]) Special Counsel

DBA LAWYERS

01 September 2023

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