If a SMSF invested in unlisted trust, can we accept the unaudited financial statements of the unlisted trust to form and opinion regarding the market value of the investment? Also, what other documents should we ask from the trustee regarding the investment other than unit certificate? What are our responsibilities as an auditor regarding these investments.
Many Thanks
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Dear Sandeep,
We should not accept the unaudited Financials. We should also checked the method of calculation of market value of units.