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The SMSF Check-Up Report is an Australian first for the SMSF industry.
The purpose of the report is to provide an analysis of any Self-Managed Super Fund*, and in so doing:
- Communicates key financial and management insights on the ‘health’ of the fund to the Trustees and Members.
- Acts as an important quality check and compliance tool for the accountant and auditor.
- Supports the accountant to present the funds analysis and engage with the client in the
knowledge that they are not required to be licensed. - Completes a high level ‘gap analyses by identifying any potential opportunities and issues
with the fund. - Provides the accountant the opportunity to deliver tailored guidance where possible,
relating to any specific superannuation matters within their regulatory parameters.
* The SMSF Check-Up Report is an exclusive service to BGL client firms.
It is important to note that while the report provides detailed feedback on the health of the fund, the information contained is factual in nature and nothing should be read to constitute financial advice, nor should the information be acted upon without professional advice.
The report will identify various areas where further work is needed to ensure the fund is maximising it’s potential in terms of creating wealth for the Members and achieving its overall regulatory requirements.
What does the SMSF Check-Up report contain?
The report covers the following:
A comparison between the fund’s investment strategy and actual asset allocation.
- A performance review to ‘benchmark’ the returns of the fund against other funds / Industry.
- An analysis of cash levels within the fund.
- Reviews certain documentation: i.e., death nomination and trust structures.
- Projections for each of the members as they head towards retirement.
- An overview of contributions, including capacity and forecasting – potential strategies.
- Analysis of funds property investments.
Whilst the report does not engage with members individually, it does include reference to several important topics, such as Estate Planning & Personal Insurance, to initiate discussion with members by their respective accountant.
SMSF Check-Up Report Insights
The Digital SMSF Check-Up Report is a First for the SMSF industry and delivers a significant degree of value and insights, to both the accountant and the funds trustee & members.
The report has been prepared in a user-friendly report format, saving what would normally be at least hours or days, to create a similar analysis – even if it could be possible to undertake manually, depending upon the complexity of the fund.
To learn more about accountantsGPS, visit their website here. To learn more about the accountantsGPS Digital SMSF Check-Up Report, click here or on the learn more button below.
It is important to note that while the report provides detailed feedback on the health of the fund, the information contained is factual in nature and nothing should be read to constitute financial advice, nor should the information be acted upon without
professional advice.