BELLAS ACCOUNTANTS & THE ATO

The ATO has confirmed that many superannuation funds made the right decision in appointing Bellas Accountants as their fund auditor.

Bellas Accountants as superannuation audit specialists have completed an ATO review of their SMSF audit systems.

The key results of the ATO review were:

Bellas Accountants has been identified by the ATO as an APPROVED large auditing entity of self managed superannuation funds.

• The ATO offered Bellas Accountants an exclusive invitation to access Superannuation Professional to Professional P2P support. (This support was only extended to approved, large SMSF audit entities that have successfully completed a recent ATO review) (see attached confirmation)
• The ATO has confirmed Bellas Accountants is in the top 100 firms by SMSF audit volume Australia wide
• Bellas Accountants was nominated for a site visit by the Deputy Commissioner of Superannuation, Stuart Forsythe (see attached confirmation)

 Paul Bellas and Izabella Bocskei have liaised with the Tax Office to assist in the preparation of technical ATO publications. The main topic was 'Superannuation and Limited Recourse Borrowings'.

 The ATO’s clearance letter to Bellas Accountants states:

 “We are satisfied that the internal controls you apply are of a HIGH STANDARD in terms of

    maintaining the integrity of the audit process.” (see attached confirmation)

 The ATO’s review involved:

• A four hour onsite systems review conducted by two Senior Tax Office auditors
• The interview of the principal Paul Bellas for matters including Independence and ethical Standards
• Technical discussions extended to all Key Bellas Accountants audit staff
• Intense scrutiny of client files and audit systems
• Work paper inspection procedures and referencing
• Staff training and ongoing CPE.

 The outcome of Bellas Accountant’s ATO review confirms that the appointment of Bellas Accountants as your independent auditor is a prudent decision.