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SERVICES

WHAT WE CAN DO FOR YOU

SPECIALISING in AUDITS for SMSF INDUSTRY

With the Australian Taxation Office (ATO) and ASIC hounding down on the independency of SMSF Auditors within accounting firms, there is added pressure and requirement to outsource for SMSF Auditors. According to ASIC’s Media Release 18-326MR on 26 October 2018, 101 SMSF auditors have been disqualified, suspended or restrictions placed since 2013 to 30 June 2018. These occurred primarily due to the following:

• Not meeting independence requirements of an auditor;
• Not complying with the auditing standards set by the Australian Auditing Standards Board (AUASB);
• Not identifying or reporting non-compliances to Australian Taxation Office (ATO); and
• Not meeting a fit and proper person test requirement.

Bookkeeping & BAS Services

  • Running a business is hectic work and here at MSAPS we understand how limit your time is. Our aim is to take the pressure of paper work so from small business owners so that you can focus on more important things – your business and customers.
  • MSAPS provides the following bookkeeping services:
    • Accounts management – our main form of managing accounts is through EXCEL or SAGEONE as these, we believe, are the most efficient. However, we are flexible in using other software packages. Remember, we work with you and what is best for you and your business. We consider time and cost when assessing your needs and will work appropriately.
    • Bank Reconciliations
    • Basic Financial Reports – Income Statement, Balance Sheet and Cash flow statement in accordance with XYZ Reporting.
    • BAS/IAS services.

It is difficult to provide a fixed price until we understand the size of your business and what services you need. However, if you need a fixed quote, please contact us and we will arrange a meeting free of charge to assess your needs. Nonetheless, our hourly rate is very competitive without compromising service. However, the total fees for our service will vary depending upon your situation, the amount of work involved and how readily the information is provided to our office.                 

  • If you would like further information, please send us an enquiry, and one of our partners will be in contact with you to arrange an appointment. We would encourage you to let us help you be better informed with information that can be useful for not just taxation matters, but assist in decision making and loan applications.
  • We hope that we can assist you. We look forward in hearing from you in the near future.

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Audits for self managed super funds (SMSF)

  • Over the last few months, there has been an increased concern over the non-compliance of many Self-Managed Superannuation Funds (SMSFs) with auditors being suspended.
  • Our firm provides a Christian-based work ethics which ensures a conscience application of high quality service. All audits are completed in house and not sent overseas.
  • Our processes of auditing a SMSF are as follows:
    • Initial meeting with either accountant, or the trustees providing instructions to conduct the audit together with the handing over of data and documents for assessment
    • Trustee Representation letter and Auditor Engagement letter are exchanged and signed. No audit will commence unless an alternative arrangement has been made, until the engagement letter has been signed by the trustees.
    • Audit Planning is conducted and memorandum recorded
    • Financial Audit assessed and working papers completed
    • Compliance Audit assessed and working papers completed
    • Fraud Audit assessed and working papers completed
    • All working papers checked and signed off
    • Auditor Independent report generated and the service is invoiced
    • Other than if there is a contravention, all documents are sent to the trustees; and the audit report is accepted
  • All documents and information are confidential, unless a declaration has been signed by the client giving authority to provide to third party.
  • If you would like further information, please send us an enquiry, and one of our partners will be in contact with you to arrange an appointment. We would encourage you to let us help you be better informed with information that can be useful for not just taxation matters, but assist in decision making and loan applications.
  • We hope that we can assist you. We look forward in hearing from you in the near future.

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Audits and reviews for NOT FOR PROFIT organisations

Please contact us if you would like to discuss this option.

  • If you would like further information, please send us an enquiry, and one of our partners will be in contact with you to arrange an appointment. We would encourage you to let us help you be better informed with information that can be useful for not just taxation matters, but assist in decision making and loan applications.
  • We hope that we can assist you. We look forward in hearing from you in the near future.

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Taxation Advise

Please contact us if you would like to discuss this option.

  • If you would like further information, please send us an enquiry, and one of our partners will be in contact with you to arrange an appointment. We would encourage you to let us help you be better informed with information that can be useful for not just taxation matters, but assist in decision making and loan applications.
  • We hope that we can assist you. We look forward in hearing from you in the near future.

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