Process of Auditing for Self-Managed Superannuation Fund: A study on

Abstract

This report is based on “Process of Auditing for Self-Managed Superannuation Fund: A study on”. I am working as an audit associate in 1superfund.1superfund is a Australia-based advisory firm company, so its head office is located at Sydney, Australia. My internship at 1Superfund provided invaluable experience in auditing Self-Managed Superannuation Funds (SMSFs). I conducted financial statement analysis, reviewed supporting documentation, assessed regulatory compliance, and identified areas for improvement. Key findings included a healthy financial position, compli-ance with regulations, and potential risks related to investment concentration. I gained valuable skills in auditing techniques, SMSF knowledge, financial analysis, and risk assessment. This internship has equipped me for future roles in the financial services industry. The first chapter of this report consists of an introductory part of this report, the second chapter includes an overview of 1Superfund where I am currently working as Audit Associate. The third chapter is the General definition, purpose & process of self-managed super fund, the fourth chapter is Auditing process deep look with a XYZ super funds data, the fifth chapter is Findings (positives & negatives), the sixth chapter is Recommendations, and in the seventh Conclusion. To understand the whole process, data collection was made through interviews with Colleagues, Annual reports, the Company website, my last few years’ practical experiences with 1Super fund, and learning the standards from books and a few websites. The company (1Superfund) should focus on diversification of its work ground. They are known to be specialized in SMSF audit. There is a big market for Tax return, bookkeeping, compli ance. Though doing audit remotely is new to Bangladesh. They sometimes struggle to get sufficient Associates. Those who love to take challenges are getting interested in 1Supewrfund. If you are not a tech lover or quick learner, you might struggle a lot.