Upholding Ownership and Separation Standards in SMSF Auditing
- Superannuation Audit Services
- 21 minutes ago
- 2 min read
How Superannuation Audit Services Supports Accounting Firms
Why Asset Ownership and Separation Matter
As trusted advisers to accounting firms, we understand that verifying SMSF asset ownership and ensuring strict separation from trustees’ personal or business holdings are foundational principles of a compliant audit. These safeguards ensure fund assets remain protected in creditor disputes and uphold legal clarity.
New ATO Guidance You Need to Know
The ATO’s latest guidance, released in August 2025, supports auditors—like us—with clear examples and acceptable documentation to verify both:
Asset ownership
Asset separation compliance under Regulation 4.09A
Both are essential for issuing unmodified audit opinions. Where evidence is insufficient or material assets are misaligned, we must modify our audit opinion—and potentially report a contravention via an Auditor Contravention Report (ACR).
Our Role—Your Advantage
At Superannuation Audit Services, partnering with your firm means we bring rigorous compliance and clarity in every audit:
Deep understanding of ATO rules and standards We align with the Australian Auditing Standards and the ATO’s new requirements to deliver compliance you can rely on.
Practical verification tools From proper titling (“trustee for” naming) to declarations of trust or caveats, we guide trustees on acceptable evidence—even in complex ownership scenarios.
Definitive reporting approach
If ownership or separation are in question, we clearly identify issues—and handle ACR submissions where necessary.
What Your Accounting Practice Gains by Working with Us
Benefit | What It Means for You |
Confidence & Compliance | Audits fully aligned with ATO expectations. |
Clear, Actionable Feedback | Trustees receive precise, practical advice through management letters and ACRs. |
Credibility with Clients | Your clients receive audit results backed by expert oversight. |
Reduced Risk | Clear documentation and expert handling mitigate audit exposure. |
In Summary
Superannuation Audit Services works closely with accounting firms, ensuring SMSF audits not only meet but exceed compliance expectations. With the ATO’s new guidance in play, our commitment to meticulous verification and professional clarity keeps your client’s fund—and your recommendation—strong and secure.
Let’s discuss how we can support your firm’s SMSF audit needs and share the latest ATO guidance with your team.
Book a FREE consultation with our team of dedicated SMSF auditors today.
Disclaimer: This communication is for general informational purposes. For tailored advice specific to your firm’s circumstances, please contact us directly.
