The AUASB has released a comprehensive Guidance Statement GS 009 Auditing Self Managed Superannuation Funds (SMSFs), providing guidance on both the audit of a SMSF’s special purpose financial report and the audit of a SMSF’s compliance with the Superannuation Industry (Supervision) Act 1993 and the Superannuation Industry (Supervision) Regulations 1994 (compliance audit). 
 
Contained in the guidance note is practical commentary on how the auditing standards should be applied in the audit of a SMSF, as well as guidance on the compliance aspect of auditing a SMSF. This guidance replaces the old Audit Guide No.4. 
 
The Guidance Statement can be downloaded from the AUASB website (PDF). 
 
This article was taken from ANT43/2008 and is current up to 7 November 2008