#9700
Awan Hammad
Participant

    Hi Umesh

    I have not been involved with a disqualified trustee other than in relation to a bankrupt member.

    SIS section 126K states that a disqualified person cannot act as trustee so in my view they cannot sign the accounts / audit documents as a trustee.

    I would suggest the ex trustees get legal advice re their options. They may be able to convert the SMSF to a small APRA Fund where a professional trustee is appointed.

    The audit report is to the SMSF trustees so I cannot see how you issue an audit report until this issue is resolved.

    If other forum members have a view please let the forum know.

    Of note about 700 trustees were disqualified by the ATO in 2022/23 (588 to 31/3/23) compared to 251 in 2021/22.

    Thanks

    THE AUDITORS INSTITUTE

    LOGIN

    New to this site? Sign Up

    We have upgraded our website for a better experience.

    Because of this upgrade, all members need to change their password to access their account by clicking the Forgot Password button below.

    Thank you and we look forward to your continued support!