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)
Who must comply with this? The applicability test by industry, business structure and size.
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
Related
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- CWLTHPay superannuation on every payday (Payday Super)From 1 July 2026, super must reach the employee's fund within 7 business days of each payday.
- CWLTHStronger Member Outcomes — APRA SPS 515RSE licensees must annually assess member-outcomes performance + take action.
- CWLTHTrust account audit + ASIC / state regulator submissionHolders of client trust accounts (real estate, legal, conveyancing) must lodge annual audited accounts.
Reading
Frequently asked questions
- Who must comply with an annual SMSF audit before lodging the SMSF Annual Return?
- SMSF trustees.
- What triggers an annual SMSF audit before lodging the SMSF Annual Return?
- Operating an SMSF.
- When is an annual SMSF audit before lodging the SMSF Annual Return due?
- Annual — before lodging the SMSF Annual Return (typically by 28 February or 15 May, depending on tax agent arrangements).
- What is the maximum penalty for an annual SMSF audit before lodging the SMSF Annual Return?
- ATO penalties (admin penalties + non-compliance tax); risk of fund becoming non-complying (loss of concessional tax rate)
- What evidence is required for an annual SMSF audit before lodging the SMSF Annual Return?
- Auditor's report (financial + compliance), audit working papers, ACR if contraventions identified.
Source: https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/smsf-administration-and-reporting. Rules Mate is not a law firm. Always verify against the live regulator source before acting.