SMSF Resources
SMSF Pre-Audit Checklist
SMSF Accountants can use this checklist to ensure all required documents and information are prepared before the audit begins. Supplying complete and accurate records helps streamline the audit process, reduces follow‑up queries, and minimises delays. Not all items will apply to every fund, and the auditor may request additional information depending on the fund’s investments, transactions and compliance matters identified during the audit.
Permanent Documents
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Latest SMSF Trust Deed and all amendments – signed.
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Investment Strategy with evidence of review
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Application for membership - signed
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ATO Trustee Declarations - signed
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Current ASIC extract trustee/director details, including any changes.
Audit Evidence for the current year
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Audit Engagement Letter, Trustee Representation Letter – signed
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Financial statements for the year including Trustee minutes and resolutions – signed
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Draft SMSF Annual Return for the year
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Rollover-in statements and documentation for any lump-sum benefit withdrawals, SuperStream confirmations
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Pension payment evidence, minimum pension checks, commencement and commutation documents, Actuarial certificate (if applicable)
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Full year bank statements and Term Deposits for all SMSF accounts
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Loan and finance documents including statements and agreements
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Shares, Crypto: Buy/sell confirmations, transaction histories
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Annual tax statements, wrap reports, dividend statements and portfolio valuations (Commsec)
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Detail of holdings in unlisted and private shares and units
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Evidence that fund assets are held in the correct SMSF trustee name, where applicable.
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Property Investments: Copy of Bare Trust and Custodian Trustee, Bare Trust set-up costs, check sales contract dates and name of buyer, review settlement adjustments, check if SMSF deed is stamped with OSR, review borrowing expenses, Title search, lease agreements, annual rental statements, insurance policy, valuation evidence, and settlement sheet
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Declaration residential property is not leased to related party
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Related-party transactions: details and supporting documents for any leases, loans, investments, expenses, reimbursements or dealings with members, relatives, employers or related entities.
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Collectables and Personal Use Assets: Insurance Policies, storage evidence and market valuations
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Fund Expenses and Deductible Costs: Formation expenses, Bare Trust set-up costs, Invoices and receipts for major fund expenses including investment costs, insurance, admin fees, and professional services, ATO Accounts including IT, ICA and PAYG Tax instalment report
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Additional Information: any other documents requested by auditor
Prior-year Audit Evidence (if audited by a different auditor)
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Signed Financial Statements and Reports for previous year
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Signed SMSF Annual Return for previous year
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Signed Management Letter and Audit Report for previous year
How to Ensure a Smooth and Efficient Audit
→ Lodge ahead of time
→ Confirm everything is included
→ Maintain records consistently