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Notes Online Home 2015 Super Schools Day 1 The NTAAs 2015 SMSF Audit Kit
How to perform a SIS compliance audit
In this section of the notes, we show you how to perform a SIS compliance audit. We cover the following:
- Does the fund satisfy the definition of an SMSF?
- Has the fund been operated in accordance with the sole purpose test?
- Has an investment strategy been prepared and implemented?
- Have the investment restrictions been adhered to?
- Have the contribution and benefit payment standards been satisfied?
- Have the administrative and documentation requirements been satisfied?