• For clients of Frost Crane & Co

  • Client Name

  • Conducted on

  • Interview conducted by

  • Reviewed by



  • Does the client have a Will that is appropriate for their current circumstances?<br>

  • Where is a copy of the will kept?

  • Does the client need to update their will so that superannuation interests and other assets are bequested in a tax effective manner?

  • Has the client considered the taxation advantages of setting up a testamentary trust?

  • Copy of relevant documents


2. Retirement Issues

  • Does the client have a financial plan for retirement?

  • What is the annual retirement income expectation of the client?

  • Has the client considered using a budget for monitoring personal expenditures?

  • Copy of bank reconciliations


3. Superannuation

  • Would the client be advantaged by starting a transition to retirement pension?

  • Would the client benefit from the asset protection features of superannuation?

  • Would the client benefit from establishing a SMSF superannuation fund?

  • Would the client benefit from an anti-detriment strategy and/or a reserving strategy?

  • Does the client need or would benefit from passing the work test... 40 hours in any 30 period during the year... Particularly the receipt of a PAYGW certificate?

  • What are the taxation implications of any payout from superannuation?

  • Relevant documents

Investment Options

4. Investment Options

  • Is the client currently able to save money?

  • Note the approximate amount saved per month

  • What proportion of savings are being salary sacrificed into superannuation?

  • How risk averse is the client? 10 = very risk averse

  • Transactions examined

Employment Records

5. Employment Records

  • Are staff being paid correctly approved rates

  • Do fringe benefit arrangements comply with FBT legislation and church policies?

  • Has employee withholding tax been correctly calculated and promptly remitted to the ATO?

  • Have payments for supply and other personal services arrangements been correctly treated with either.. TFN, ABN or volunteer declarations obtained?

  • Have assessments for workers compensation, superannuation and other benefits been correctly determined and promptly remitted to relevant authorities?

  • Have BAS returns been prepared in accordance with financial records and lodged promptly?

  • Have you reviewed the Integrated Client Account for timely lodgment of BAS returns and any refunds that may be due?

Treasury Oversight


  • Copy of minutes

  • Have you reviewed the approved minutes of all meetings for the year and noted any significant financial decisions?

  • Do minutes of meetings evidence proper oversight of financial affairs and approval of expenditures?

  • Was a budget approved for the year and actual receipts and payments compared to the budget periodically during the year?

  • Have all points raised by the prior year review been adequately addressed by TCWG?

  • Has the Treasurer (and/or committee members) signed a statement for the accounts

  • Copy of Treasurer's Statement

Financial Report


  • Financial Report on file?

  • Does the financial report agree with the financial records?

  • Do prior year comparative figures agree with prior year reports?

  • Do the classification of income and expense items comply with church reporting guidelines and policies?

  • Are the additions of the report correct?

  • Have all items been correctly and fully disclosed in the reports, especially any trust monies?

  • Have all errors and recommendations been documented and reported to TCWG?

  • Are you satisfied that the financial report is accurate and an assurance statement can be issued?

  • Copy of Review Statement

  • Signature of assessor

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