To :
(Name of Auditor)
Chartered Accountant
Address
This representation letter is provided in connection with your examination of the financial
statements of the XXX Superannuation Fund for the year ending the 30th June 2007. We
confirm to the best of our knowledge and belief, the following representations made to you
during your audit.
We understand that your examination was made in accordance with Australian Auditing
Standards and was, therefore, designed primarily for the purpose of expressing an opinion
on the financial statements taken as a whole, and that your tests of the accounting records
and other auditing procedures were limited to those which you considered necessary for that
purpose.
Sole Purpose of the Fund
The sole purpose of the fund is to provide retirement and / or death benefits to its members
and / or beneficiaries.
Legislative Requirements
(Other than the matters raised in the audit management letter dated dd/mm/yy,) the fund is
being conducted in accordance with the requirements of the Superannuation Industry
(Supervision) Act 1993 (SISA), and the Superannuation Industry (Supervision) Regulations
(SISR).
There are no violations or possible violations of laws or regulations whose effects should be
considered for disclosure in the financial report or as a basis for recording an expense.
There have been no communications from any regulatory body concerning a contravention of
SISA or SISR which has occurred, is occurring, or is about to occur.
Accounting Policies
All of the significant accounting policies of the Fund are adequately described in the Financial
Statements and Notes thereto. These policies are consistently applied unless specifically
noted in the Financial Statements and Notes. (Please note that the accounting policies have
changed as e.g the Fund has moved from Historical Cost Valuations to Fair Value Reporting
for all material assets.)
Fund Books and Records
All financial books, records and related data pertinent to the fund, have been made available
to you, including the Trust Deed, as amended and the Fund’s rules and regulations.
There are no assets or liabilities of the fund that have not been disclosed to you or the Fund
Administrator.
The Financial Statements accurately disclose the full extent of the assets and liabilities of the
Fund and also the Fund’s income and expenses for the reporting period. The Financial
Statements are free of material misstatements or omissions. Any uncorrected misstatement
brought to our attention by the auditor has been considered as immaterial individually and in
aggregate to the Financial Statements taken as a whole.
Unadjusted Accounting Misstatements
During the audit the following accounting errors were identified but were not adjusted as they
were deemed to be immaterial:
Insert Details
Asset Form
The assets of the Fund are being held in a form suitable for the benefit of the Members of the
Fund and all listed assets have been stated at their market value.
Ownership and pledging of assets
The Fund has satisfactory title to all the assets disclosed in the Financial Statements, (other
than those as noted in the audit management letter dated dd/mm/yy) and all investments are
registered in the name of the fund. No assets of the fund have been pledged to secure
liabilities of the fund or of others. The trustee is not aware of any assignment or charge over
the Fund’s assets.
All assets are at arms length and no in-house assets exist at 30 June 2007 (The funds inhouse assets are valued at $XXX as at 30 June 2007.)
Investments
The values of the investments of the Fund are considered reasonable having regard to
prevailing circumstances, and there has not been any permanent diminution in their value
below the amounts recorded in the Financial Statements. There are no commitments, fixed
or contingent, for the purchase or sale of long term investments.
The Trustees have complied with all the Investment Standards set out in the various
regulations contained in SISA and subsequent revisions or amendments.
Trust Deed and Trustees’ Responsibilities
The Fund is being conducted in accordance with its Trust Deed and Rules. All Trust Deed
amendments made are necessary for the fund to comply with the SISA and other Federal
and State Standards and Regulations applicable to superannuation funds, including those
pertaining to the Australian Taxation Office. Amendments have been made in accordance
with the requirements of those standards and regulations.
Appropriate Risk Management Statements have been prepared in accordance with the
Guidelines set out in the APRA Circular on Risk Management Statements for
Superannuation Entities investing in Derivatives.
Trustee Covenants
The trustees have complied with all the trustee covenants set out in S52 of SISA. In
particular, the trustee has not entered into contracts that hinder the performance of trustee
functions.
Reports and Information to Members
The Trustees confirm that they have distributed all required reports and other information to
members in the form and including the minimum information as required by SISA at the
relevant times and timeframes as set out in SISA and SISR.
Subsequent Events
No events or transactions have occurred since the date of the above referenced Financial
Statements and Notes, or are pending, such that they would have a material effect upon the
Fund’s state of affairs at that date, or which are of such significance in relation to the Fund’s
affairs, as to require mention in the Notes to the Financial Statements in order to ensure they
are not misleading as to the state of affairs of the Fund or its operations.
Administration
The Trustees are aware of the various administrative obligations imposed upon us under
SISA and SISR and accordingly confirm the following:
 accounting records have been kept for a minimum of five years;



minutes of Trustee meetings have been prepared and kept for a minimum of ten
years;
changes to Trustees, Directors and all written consents to appointment as Trustees
have been maintained and kept for a minimum of ten years;
copies of annual returns lodged and all reports given to members have been kept for
a minimum of ten years.
Yours faithfully
……………………………………………………………….……………
Date:……………………
Trustee of the XXX Superannuation Fund
……………………………………………………………………………
Date:……………………
Trustee of the XXX Superannuation Fund