Services Guide

Elite Super - SMSF audit services guide

Our mission statement is to help accountants and financial planners offer the best quality SMSF service to their clients by being their SMSF business partner. Combining the SMSF audit function and SMSF technical assistance together in one unique relationship is what we are well known for.

Elite Super provides a cost effective and timely way of outsourcing the SMSF audit function required to comply with the independence requirements for the SMSF audit. Our Australia wide audit services, through our online audit portal (accessed though our web site) provide a timely and secure way of exchanging audit documentation. As your SMSF audit experts, we can also provide a 'back office' style technical support to practices to enable your firm to confidently have access to the right advice all the time. Elite Super is well known with its current clients for providing a "wrapped up" service of the independent audit and SMSF technical help. We are happy to provide accountancy firms as references to speak to about our personal and efficient service. Operating since early 2005, our firm has grown to have approximately 30 SMSF administrator firms as our business partners.

Unlike the idea of swapping clients with other accountancy firms, our services are audit only, and so remove the threat of your client engaging us for the administration of their fund. (We can put in place a legally binding agreement that we will not do so to remove any concerns). Your firm always maintains full contact with your SMSF clients, we never directly contact your clients. By outsourcing to Elite Super, your clients SMSF audits are in safe expert hands, allowing you to spend more time concentrating on your core business.

Having an independent SMSF auditor can reduce the risk of an ATO audit, especially if our auditor details are located on the Funds Income Tax Return, not your own firm. The ATO are looking closely at this area in relation to independence. A recent Practice Statement issued by the ATO (PS LA 2010/2) stated that if the approved auditor also carries out the accounting function for that fund, the ATO would not view the auditor as being independent. So by engaging Elite Super, your firm has truly independent audits that meet ethical requirements of your accounting body and the required ATO independence (which to us appears to be a stricter requirement than the accounting bodies).

Our tailored audit programs are the best in the industry, approved by the ICAA on a recent (June 2010) quality control of our business. We pride ourselves on our 100% electronic audit file system. This enables your firm, where ever you maybe in Australia, to send us electronic audit file documents through our secure audit portal. It enables fast, accurate and reliable audits to be performed within a 15 day turn around (if all the information has been provided to us). The audit portal is through CCH Pro-System portal and is completely secure and very user friendly.

We have put together a guide to "what we do" and it has proved useful to accounting firms and financial planning firms that are coming on board with us for the first time. It gives an over view of the steps through the audit process and provides more clarity on the external audit process in our firm.

See the following link = > Our Guide to What we do...

So why use Elite Super for the SMSF audit?.

- we are your SMSF business partner and provide free advice on all SMSF compliance issues,

- we are SMSF specialists, accredited with the peak SMSF body in Australia SPAA, so your SMSF audits are handled by qualified Australian specialist auditors (not sent over seas to auditors with out qualifications),

- true audit independence is achieved, removing any concerns that may surround your relationship with your SMSF clients,

- we use only best practice audit programs and these have been officially acknowledged by the Institute of Chartered Accountants as the best audit files they have reviewed,

- we reduce staff & audit software costs in your practice through outsourcing of the audit function, allowing your staff to concentrate on the core business of the practice,

- we provide the capacity to handle large volumes of audits due to our expert staffing and online audit systems, and the number of auditors we employ.

P 02 65 626 551

F 02 65 628 551

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