Introduction
The rules for managing self-managed super funds (SMSFs) continue to evolve. For accountants and advisers, staying up to date with SMSF audit requirements is essential to ensure compliance and avoid costly penalties for trustees.
In 2025, the ATO remains focused on independence, accurate reporting, and strong record-keeping. Every SMSF must complete an annual SMSF audit, conducted by an independent SMSF auditor with ASIC approval and professional qualifications such as a CPA qualification.
Here’s what accountants need to know about the SMSF audit process and requirements this year.
Why SMSF Audits Are Essential
An SMSF audit is mandatory under the Superannuation Industry (Supervision) Act (SIS Act). Without it, an SMSF cannot lodge its annual return with the ATO.
The SMSF audit process covers two key areas:
– Financial audit – Verifying that the fund’s financial statements are accurate.
– Compliance audit – Checking that the fund complies with superannuation laws and the fund’s trust deed.
By engaging professional SMSF audit services, accountants can ensure their clients’ funds meet these obligations.
Key SMSF Audit Requirements in 2025
For 2025, accountants should pay special attention to the following areas:
1. Accurate Record-Keeping – Trustees must maintain complete records of all transactions, member contributions, pensions, and expenses.
2. Contribution Caps – Auditors will review contributions against concessional and non-concessional caps. Errors can lead to excess tax assessments.
3. Investment Strategies – A documented investment strategy is required and must reflect members’ needs. It must be reviewed regularly.
4. Property Valuations – Properties must be valued at market value, supported by appraisals or independent reports every 2–3 years.
5. Related-Party Transactions – Any loans, leases, or investments with related parties must meet arm’s-length terms.
Meeting these SMSF audit requirements ensures smoother audits and fewer compliance breaches.
SMSF Audit Fees – What to Expect in 2025
SMSF audit fees remain competitive, with most audits ranging between $300 and $600 per fund. Complexity, such as property ownership or LRBA loans, may increase the cost.
At SMSF Audit Link, we provide fixed, transparent SMSF audit fees — no hidden charges, just reliable compliance support.
Online SMSF Audits – Efficiency for Accountants
With increasing digital adoption, online SMSF audits are now the norm. Platforms like BGL, Class, and SuperMate® allow accountants to share fund data securely with auditors.
This technology enables:
– Faster turnaround times (3–5 days)
– Secure document sharing
– Real-time tracking of the audit’s progress
Whether in Sydney or anywhere else in Australia, online SMSF audits make compliance faster and more efficient.
Independence and Professional Standards
The ATO continues to emphasise independence in 2025. Every SMSF must undergo an independent SMSF audit by an auditor who is not involved in preparing accounts or giving financial advice to trustees.
That’s why all audits at SMSF Audit Link are handled by senior, CPA-qualified, ASIC-approved SMSF auditors who focus solely on audits — never on accounting or advisory services.
SMSF Audit Sydney and Nationwide Coverage
While based in Sydney, SMSF Audit Link provides SMSF audit services Australia-wide. Accountants across the country benefit from our fixed fees, independence, and professional expertise, supported by modern online SMSF audit solutions.
Final Thoughts
For accountants in 2025, understanding and meeting SMSF audit requirements is critical. With accurate record-keeping, proper valuations, and compliance-focused processes, SMSFs can avoid breaches and penalties.
By partnering with SMSF Audit Link, accountants and advisers gain access to trusted, independent SMSF audit services delivered by CPA-qualified, ASIC-approved SMSF auditors. With fixed SMSF audit fees, secure online SMSF audits, and fast turnaround times, we help ensure SMSFs across Sydney and Australia remain fully compliant.