INDEPENDENT AUDIT
Reasonable Assurance Engagement (Audit)
Reserve Vault has partnered with integrated Audit Service to provide our customers with a cost-effective and independent reasonable assurance report and a certification of holdings of your precious metal bullion, whether it be for your Self-Managed Super Fund compliance, corporate governance or your own peace of mind.
Integrated Audit Service offer a unique and independent approach to audit and assurance services. With an emphasis on professionalism and attention to detail, integrated Audit Service provide a practical approach to the independent audit process, with a dedicated focus on achieving outcomes that meet both the customer and statutory requirements.
Like our insurance, our ability to group buy and implement these services means we can offer a highly competitive rate for your independent audit needs.
Other Secure Storage Options with Reserve Vault
View other private storage options: Secure Document Wallet, Safe Deposit Box, Bullion Locker Safe, Tumbler Bullion Safe, Electronic Digital Safe, Fire Resistant Drawer Safe, Large High Security Safe
What You Get
Need to insure your goods? Our master policy is underwritten by world class insurers and offers you very affordable insurance options. Feel free to ask if we can have your special possession insured.
If you are unsure please do not hesitate to call or email one of our friendly customer service representatives.
SMSF Audits
Conditions
SMSF rules (SIS Regulations) apply to collectibles such as art and jewellery. They also deem bullion coins in your SMSF to be ‘collectibles’ (and therefore subject to SIS Regulation 13.18AA) which relevantly requires them to be:
- Independently stored in a secure storage facility;
- Insured in the superannuation fund’s name; and
- For accounting and independent audit purposes, the trustees must be prepared to have the asset valued regularly.
For assets bought before 1 July 2011 you had until 1 July 2016 to comply with these rules. We are not tax advisors nor accountants so you should check with your own SMSF administrator or accountant. We are finding increasingly many SMSF administrators and advisors also believe precious metals bullion in bar form requires an annual audit to meet the Trustees obligations. Again you should check with yours.
SMSF rules (SIS Regulations) apply to collectibles such as art and jewellery. They also deem bullion coins in your SMSF to be ‘collectibles’ (and therefore subject to SIS Regulation 13.18AA) which relevantly requires them to be:
- Independently stored in a secure storage facility;
- Insured in the superannuation fund’s name; and
- For accounting and independent audit purposes, the trustees must be prepared to have the asset valued regularly.
For assets bought before 1 July 2011 you had until 1 July 2016 to comply with these rules. We are not tax advisors nor accountants so you should check with your own SMSF administrator or accountant. We are finding increasingly many SMSF administrators and advisors also believe precious metals bullion in bar form requires an annual audit to meet the Trustees obligations. Again you should check with yours.
For us to be able to offer this competitive rate it relies on compliance with the following:
- Allocated time slots must be strictly adhered to. Late arrivals will need to be rebooked for another date.
- You must be prepared to open all non-transparent packaging of goods to allow the auditor to suitably identify the product
- The booking system relies on a quick removal and replacement of goods in your safe. It does not allow for reorganisation or extensive unpacking of goods. Should you know in advance many of your goods are packed non-transparently you should attend to them before the audit to prepare them accordingly.
- The auditor will take weights and purity of bullion at face value.
- If you have personal and SMSF holdings in the same safe, you will need to declare which goods belong to each entity.
Strictly by Appointment Only
Visitation to the Reserve Vault is strictly by appointment with photographic ID. Appointments can be made through our contact page.