The Self-managed superannuation fund independent auditor’s report (NAT 11466, RTF 345KB) are instructions and a form that you should use if you:

–          are an approved auditor, and

–          have been appointed by a trustee of self managed superannuation (SMSF) to give a report on the operation of that fund for each income year.

This report applies from 1 July 2011. For an annual audit, this means for audit periods commencing on or after 1 July 2010. You may use this report for audits completed for earlier periods. However, you must take care to comply with the auditing standards and legislation that applied to that period.

There are two new regulations included in the 2011 audit report that Auditor must now sign off . Regulation 1.06(9A) (which requires the minimum pension to be paid at least annually) and reglulation 5.03 (which requiest investment earnings to be allocated to members on a fair and reasonable basis.