Surf’s up: a documentation history of a super life cycle, from a ripple to gnarly and on to wipe-out

  • Presentations, Technical Resource
  • Audit, Setup and management

Technical Summit 2022

This session will use a case study to consider the importance of documentation from different perspectives including the client, accountant, auditor and lawyer.
 
From the creation of the fund and the admittance of members to the ongoing acceptance of the annual fund accounts and the winding up of the fund, all stages of documentation will be considered. Follow the ups and downs of the ‘Surfs Mothers SMSF’ as the fund explores new investment opportunities, encounters compliance issues, lost documents, relationship breakdowns and estate challenges.
 
Documents submitted by session narrator and client adviser (played by Graeme Colley) will be critically reviewed by the fund auditor (played by Shelley Banton). The client’s lawyer (played by Peter Bobbin) will provide a risk management overlay from both a client and adviser perspective. The line between providing legal and financial advice will be considered along with the concept of litigation awareness and training.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association