I am currently doing a SMSF audit in which 90% of the member balances was invested in cryptocurrency and remaining in cash at bank. The trustee has signed the declaration of trust for the holding balance as at 30 June 2020 and also provided some screenshot for the transaction history from the mobile app/wallet; Due to the nature of the cryptocurrency, we would not be able to check the account holder as well as the holding balance for the superfund other than rely on the declaration of trust. What else do you do? Do you qualifiy?
Thanks in advance.