If you are an SMSF auditor, your role would be to conduct the annual “financial and compliance audit” of SMSF’s operations. Meanwhile the trustees should appoint you as their respected SMSF auditor before 45 days just prior to the time when the annual return will be issued. They must also provide all the relevant documentation needed to no later than 45 days before the annual return is due to be lodged and provide you with all relevant documentation to execute and also finalize the audit.
You will need to complete the auditing process and then provide Independent Auditor’s Report (IAR) to trustees within a period of 28 days of receiving the relevant documentation. Both, a financial and compliance audit should be conducted prior to receiving the SMSF annual return is issued.