Are you aware that the ATO is committed to an ongoing audit compliance program on self managed super funds who have not engaged an independent auditor?

If you are currently auditing and preparing your client’s superfund financial statements, it is only a matter of time before you will need to explain to your SMSF clients why they have been targeted for an ATO audit. Additionally, the Institute of Chartered Accountants and the Certified Practicing Accountants requires accountants to be independent as stated in their professional code of conduct and audit guidance notes.

Discover the benefits of outsourcing your clients super audits to BCS and reduce the risk of an ATO audit, the likelihood of compromising your relationship with your client, the cost of your PI insurance, and the strain on your business by having your professional staff perform routine compliance audit work and free them to work on more profitable and interesting assignments.

Our superannuation advisory specialists are also available to resolve any of your specific technical issues. We are also experienced in mediating with the Australian Taxation Office favourable outcomes of significant compliance breaches.

• No surprises. We strive to deliver a consistent and efficient level of service, and offer fixed prices.
• Honesty and integrity guarantees your peace of mind in retaining your client relationship. You are our client, and we will not solicit other work directly from your clients. If we are approached by your clients, we will contact you immediately.
• Communication is important to us. We will respond to you promptly and consult with you on any regulatory breaches.
• We value our relationship with each accountant, and try to add value to your practice beyond the audit process.
• We work as a team. During the course of our engagement, you will have contact with our team of trained auditors who are technically up to date.
• A sensible super audit approach - As Chartered Accountants, BCS adheres to Australian Auditing Standards. As such, we focus on risk, materiality and adherence to SIS.
• Our pursuit of quality and consistency is achieved via specialised electronic processes and programs. By embracing technology, we aim to provide professional value for money assurance services.

Every accountant is different. Our flexible approach allows us to work with you throughout the process. We offer a complimentary training session to you and your staff at your office whereby we provide you with a Pre-Audit Checklist to assist in the construction of your workpaper file.

We are obliged to issue you with:

• Engagement letters including our quotation,
• trustee representation letters,
• If required, a template letter to your trustees explaining the need to outsource this audit.

Original documentation can be mailed to us; otherwise we accept electronic copies of documentation via CD/DVD or email. If it is necessary, we will come to your office to perform the audit, but we prefer to work from our office rather than interrupt your staff, and use your resources.

Timing, deadlines and audit issues are discussed with you on an ongoing basis.

Reporting of breaches – we issue a outstanding matters letter to you for non material issues, and discuss contraventions in advance of qualifying the audit report.

Finally, we mail you our signed SMSF audit report and invoice. (Each audit report is signed by the audit partner).

We are committed to completing each audit within 2 weeks. This excludes funds sent to us in the months of February and March, and those funds which have incomplete information or contraventions which will take longer.

If you have a fund requiring an urgent audit, please feel free to contact us.

Our standard fee for providing this super audit service to your superannuation fund in respect of the year ended 30 June 2009 is as follows:

FUND VALUE / INVESTMENTS	UP TO $1 MILLION	UP TO $2 MILLION	$2 - 3 MILLION	MORE THAN $3 MILLION
Up to 12 investments	$600	$660	$770	$880+
Up to 24 investments	$660	$770	$880	$990+
Up to 40 investments	$700	$770	$990	P.O.A
40+ investments	$770	$880	P.O.A	P.O.A

NB: For the purpose of the above, investments are included if they are held by the superannuation fund and / or other entities of the fund.

The following variations may apply:

Fee Decreases:

• Substantial investment in cash: From $440 (total fee)
• Prior year audits performed concurrently: From $440 (total fee)
• Fund establishment part way through financial: From $440 (total fee)

Additional Fees:

• Property title deed search: $22
• Contravention Report: $165
• Revision of financial statements: $55
• Investment in related unit trust: $110
• Instalment warrant loans: P.O.A

We accept payment by cheque, EFT or credit card.

Introductory welcome offer

Please ask us for a 10% discount on the first superannuation audit sent to us.

Please contact us to arrange a no obligation meeting and let us show you why you need to outsource to BCS – the superannuation audit specialists.