If you have been advised that you are being allocated a “case manager” then it is likely you are going to have your SMSF put through an initial audit. This will add a few weeks to the SMSF establishment. Below is an example of the letter you will likely receive. You can expect a similar letter in the mail shortly. The audit is set up in 2 parts.
1. The interview
2. The document review
The interview is a phone meeting where the ATO representative asks a number of questions relating to running an SMSF.
With an SMSF all trustees are equally responsible and accountable for:
- managing and running the fund
- making decisions
- making sure the fund complies with the law.
You should familiarise yourself with the information on our audit page here: http://newbrightoncapital.com/audit
Below is a list of the docs you need to provide. All the required documents are included in your Client Portal in your SMSF Establishment folder.