Awan Hammad

    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.




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