Practice Essentials: Audit Essentials (Foundation Edition)

WHAT'S INCLUDED 48 professionally drafted Microsoft Word documents across 4 phases:

• Phase 1 — Engagement Setup: 4 documents

• Phase 2 — Client Preparation: 3 documents

• Phase 3 — Client Declarations: 28 documents (trustee forms and working paper pairs)

• Phase 4 — Audit Outputs: 13 documents (reports, letters and file close)

• All documents are fully editable Microsoft Word (.docx) format

• Anonymised and ready to use — replace [FIRM NAME] and [BRACKETED] placeholders

• One-off purchase — no subscription, no recurring fees

DOCUMENT SUMMARY PHASE 1 - ENGAGEMENT SETUP (4 DOCUMENTS)

• Quick Start Guide - Complete reference for all 48 documents, phase index, workflow and file naming convention

• SMSF Audit Engagement Letter - Engagement terms, scope and fee arrangement

• Engagement Cover Sheet and Risk Profile - Risk rating, independence and client profile at commencement

• Annual Independence Declaration - Per-engagement ASQM 1 independence documentation
  

PHASE 2 — CLIENT PREPARATION (3 DOCUMENTS)

• Audit Document Request Checklist - Client-facing request issued to trustees or administrators

• Audit Document Checklist - Auditor-side document receipt and completeness tracking (WP)

• Year Ahead Checklist - Issued post-audit to prepare for the following engagement year
  

PHASE 3 — CLIENT DECLARATIONS (28 DOCUMENTS)

• Trustee Representation Letter

• Trust Deed Health Check (WP)

• Investment Strategy Review Declaration

• Contribution Minutes

• Part 8 Associates Declaration and Working Paper

• Related Party Worksheet (TF and WP)

• LRBA Trustee Declaration, Compliance Checklist and Compliance Worksheet

• In-House Asset Schedule (TF and WP)

• Property Declaration, Compliance Checklist and Property Valuation Minutes

• Crypto Asset Declaration (TF and WP)

• SIS Reg 13.14 Declaration

• Unlisted Asset Declaration (TF and WP)

• Pension Compliance Checklist (TF and WP)

• Death Benefit Payment Declaration and Working Paper

• SMSF Wind-Up Declaration, Wind-Up Checklist and Wind-Up Worksheet
  

PHASE 4 — AUDIT OUTPUTS (13 DOCUMENTS)

• Independent Auditor's Reports — Combined Part A (Financial) and Part B (Compliance)

• Audit Quality Review Checklist — ASQM 1 pre-sign-off quality gate

• Management Letter — Risk-rated findings (CRITICAL / HIGH / MEDIUM / LOW)

• Section 129 Letter to Trustee

• Contravention Report Guidance (WP)

• Section 130 Letter

• Audit Report Transmittal Letter

• Prior Year Queries Follow-Up (WP)

• Document Follow-Up Letter

• Extension of Time Notice

• Audit Completion Notification

• Engagement Termination Letter

• Audit File Index / Working Paper Register — 48-document sign-off register

WHO IS THIS FOR?

The Foundation Edition is designed for:

• Registered SMSF auditors seeking a complete, standalone documentation toolkit that covers the entire audit engagement lifecycle

• Practices that manage their own working papers independently, or that want comprehensive documentation that operates alongside any cloud audit platform

• Auditors building or reviewing their ASQM 1 compliance framework — the Audit Quality Review Checklist (included) is the only SMSF-specific pre-sign-off quality gate available

• Practices that audit SMSFs with pension members, as pension compliance documentation is not covered by cloud platforms

• Auditors who want trustee-facing declaration forms (TF) paired with matching auditor working papers (WP) for every major SMSF asset type and event

• Sole practitioners and small practices looking for an affordable, professional alternative to building their own precedent library

• Larger practices standardising documentation across multiple auditors — the consistent formatting and reference coding make file management straightforward

KEY FEATURES

• Complete engagement lifecycle — one toolkit from start to close

  48 documents cover every touchpoint: engagement acceptance, client preparation, all declaration workflows, audit outputs, statutory letters and file close.

• ASQM 1 pre-sign-off quality gate

  The Audit Quality Review Checklist (AE-AQRC-WP) is the only SMSF-specific engagement-level quality control checklist aligned to ASQM 1 — not available in the Platform Edition or from any other provider.

• Full declaration suite — TF/WP pairs for every asset type

  Every major SMSF investment category has a matching trustee form (returned by trustees) and auditor working paper — LRBA, property, crypto, in-house assets, unlisted investments, pension, death benefit and wind-up.

• Pension compliance coverage

  The Pension Compliance Checklist (TF and WP) covers minimum payment calculations, TRIS rules and pension method compliance — not covered by cloud audit platforms.

• Risk-rated management letter

  The Management Letter uses a CRITICAL / HIGH / MEDIUM / LOW risk framework with a trustee acknowledgement section — professional and trustee-ready out of the box.

• Independent Auditor's Reports — combined template

  Part A (Financial Statements, 8 sections) and Part B (Compliance Engagement, 6 sections) in a single combined template — covers all ASAE 3100 and AUASB requirements.

• ASQM 1-ready independence documentation

  The Annual Independence Declaration provides per-engagement independence documentation at a level that cloud platforms do not support.

• Works with any platform

  Designed to operate alongside BGL, Class, Xero, MyWorkpapers, Cloudoffis or any other audit platform — or entirely independently.

• No subscription - own it outright

  One-off purchase. Download, customise with your firm name, and use across all of your engagements with no per-use or annual fees.