Looking for the Best SMSF Audit Service in Perth? 6 Firms Independent of Your Accountant

If you run a self-managed super fund (SMSF), one job comes around every year without fail: the audit. Before your fund’s annual return can be lodged, an approved SMSF auditor has to check the accounts and confirm the fund has followed the rules. You need to appoint the auditor at least 45 days before the return is due.

There is one more rule that trips people up. The auditor must be independent of the accountant who prepared your fund’s accounts. Below are six Perth SMSF audit firms, what each one says about itself, and how to choose between them. The guide also covers one other route for trustees who would rather not arrange the audit: an accounting firm such as SMSF Australia (smsfaustralia.com.au), which arranges the independent audit as part of its annual fee.

Why your SMSF auditor must be independent

Think of it as a second pair of eyes. Your accountant prepares the fund’s financial statements and tax return. The auditor then checks that work and your fund’s compliance with super law. If the same person did both, they would be checking their own work, so the law does not allow it.

In practice, most trustees have two providers: an accountant, and a separate audit firm. All six firms below are SMSF audit firms, so any of them can act as that independent second pair of eyes when a different firm prepares your fund’s accounts.

Perth SMSF audit firms at a glance

1. Guardian Assurance, West Perth

Guardian Assurance is an SMSF audit provider to accounting, financial planning and super administration firms. It puts the independence point plainly: “By using Guardian Assurance, you will avoid questions of auditor independence.”

It offers a 14-day turnaround, and its audit fee is $550 GST inclusive plus disbursements, for clients with fewer than 100 audits. Clients also get direct access on technical queries. If your accountant is looking for a separate auditor, Guardian is worth a mention.

2. RTW Auditing, Perth

RTW Auditing is a registered SMSF auditor based in Perth. It says it complies with the independence requirements of APES 110, the professional code auditors follow. It audits for trustees, financial planners and accounting firms.

Turnaround is generally within 14 days. Its standard SMSF audit fee is from $440 including GST, with slightly higher fees for funds that hold property, use borrowing or have non-standard investments. RTW also offers free phone advice on complex audit matters, which is handy if you would rather talk a question through than write emails.

3. Auditax, Northbridge

Auditax invites you to “Get an experienced & independant SMSF Auditor”. It audits for trustees and accountants throughout Australia and says audits are completed within 5-10 working days, the quickest stated time on this list.

Its headline offer is “Just SMSF Audits From $440 exc. GST”. You get a customised audit checklist, so you know which papers to send, and trustees can talk directly with an auditor.

4. Reliance Auditing Services, West Perth

Reliance Auditing Services explains its approach this way: “we maintain our independence, integrity, and objectivity by providing only auditing services.” Funds are uploaded through a secure cloud-based audit portal, which suits trustees and accountants who like to send documents online.

5. Perth SMSF Auditing

Perth SMSF Auditing undertakes only audit services and provides no tax, accounting or financial planning services. In its words, “This ensures that we are truly independent.”

It usually offers a fourteen day turnaround, depending on how complex the fund is, and all audits are completed in Australia by ASIC registered auditors. It works through your accountant and will never approach you as a trustee directly. That suits people who like their accountant to manage the process for them.

6. DA Audit, Bayswater

DA Audit describes itself as “a focused independent SMSF audit firm” and is a strategic partner of MKG Partners. It offers a competitive fee and a quick turnaround, with no overseas outsourcing. Documents go up through a client portal, and it serves trustees, accountants, advisers and administrators.

Prefer not to arrange the audit yourself? SMSF Australia

Some trustees would rather not deal with two firms each year. SMSF Australia is not an auditor. It is a firm of SMSF accountants and lawyers that prepares your fund’s accounts and arranges the independent audit for you, and the audit cost is included in its fixed annual fee. Fees start at $1,300 + GST for a basic fund, and support is by phone and Zoom, which suits trustees anywhere in Western Australia. Its website sets out what each fee tier includes.

How to weigh up your shortlist

1. Independence. Confirm the auditor has no link to the firm that prepares your accounts.
2. What the fee covers. Check whether the quote includes GST and disbursements, and whether property or borrowing costs extra.
3. Timing. Ask when the turnaround clock starts. Turnaround usually depends on the firm having all your records.
4. Who talks to whom. Decide whether you want to speak with the auditor yourself or have your accountant handle it.

Frequently asked questions

Does my SMSF really need an audit every year?

Yes. An approved SMSF auditor must audit the fund each year before the annual return is lodged.

Can my accountant do the audit too?

No. The auditor must be independent of whoever prepared the fund’s accounts.

Why do some firms charge more for property?

RTW Auditing, for example, says funds with property, borrowing or non-standard investments incur slightly higher fees. These funds usually have more records for the auditor to check.

How do I check an auditor is approved?

Ask for their SMSF auditor number and look it up on ASIC’s register of approved SMSF auditors.

Conclusion

Choosing the best SMSF audit service in Perth comes down to four things: independence from your accountant, a fee you understand, a turnaround that fits your deadline, and a way of working that suits you. Guardian Assurance, RTW Auditing and Auditax publish their prices; Reliance, Perth SMSF Auditing and DA Audit quote on request. If you would rather not manage the audit at all, an accounting firm that arranges it for you is the other route. Whichever you pick, appoint your auditor early so your fund’s return goes in on time.