[Awan Hammad]

Hi Robert

Different auditors will have different views on this question.

It will also depend on if the gold and silver bars are material.

My view if it is a material asset and the auditor cannot verify it exists as at year end then a Part A financial audit qualification should be issued. That is a statutory declaration and minutes are not going to be sufficient to satisfy the financial audit requirements.

If the investment strategy allows the investment then arguably there would be no reason to issue a Part B qualification.

In your management letter I would also raise the issue of insurance if there is none in place.

It would be great to get other forum members views on this query.

Thanks
SMSF AAA