Lodge an annual SMSF audit before lodging the SMSF Annual Return
Self-managed super funds must be audited by an ASIC-registered auditor each year.
Who must comply
SMSF trustees.
What triggers it
Operating an SMSF.
When due
Annual — before lodging the SMSF Annual Return (typically by 28 February or 15 May, depending on tax agent arrangements).
Evidence required
Auditor's report (financial + compliance), audit working papers, ACR if contraventions identified.
Max penalty
ATO penalties (admin penalties + non-compliance tax); risk of fund becoming non-complying (loss of concessional tax rate)
Summary
Section 35C of the SIS Act requires SMSFs to be audited annually by an approved SMSF auditor (ASIC-registered, independent). The audit covers financial and compliance components. Auditor must report contraventions to the ATO via an Auditor/Actuary Contravention Report (ACR).
Enforced by
Source legislation
Entity types
Topics
Source: https://ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/administering-and-reporting/smsf-auditors. Rules Mate is not a law firm. Always verify against the live regulator source before acting.