For more than two decades, we've worked alongside accountants and SMSF administrators, auditing thousands of self-managed super funds through changing legislation, evolving technology, and shifting regulatory priorities.

During that time, a few things have stood out. SMSF audits aren't just about finding issues, they're about building strong processes, communicating early, and helping firms navigate an increasingly complex compliance environment with confidence.

Here are some of the biggest lessons we've learned over the past 20 years. 

One of the most common causes of delays in the SMSF audit process isn't a complex compliance issue, it's missing documentation.

While every SMSF is different, providing complete and accurate records from the start will help your auditor complete their work efficiently and reduce the likelihood of follow-up requests. Understanding what your auditor needs can save time and speed up the audit process for trustees and accountants.

For many SMSF trustees, the annual audit can feel like a stressful hurdle. But in reality, most SMSF audit issues are preventable with the right processes, guidance and support throughout the financial year.

Accountants play a critical role in helping their clients stay compliant, maintain accurate records, and avoid potential delays, costs, and penalties that can arise from audit complications.

The recent Federal Budget announcements have introduced proposed changes to the taxation of investment earnings and capital gains outside of superannuation, sparking renewed discussion around the future of retirement planning structures.

Under the current framework, superannuation remains one of the most tax-effective investment structures available in Australia, and the proposed reforms may create an opportunity for SMSFs with balances below $2 million. 

Property remains one of the most popular investment choices within self-managed super funds. Property can offer long-term growth and income stability, however, it also attracts a higher level of audit scrutiny compared to many other asset classes. Here are the main reasons why property attracts extra scrutiny, and areas auditors are paying extra attention to. 

For many SMSF trustees, receiving a qualified audit report can feel concerning. However, in most cases, it’s not something to panic about. A qualification simply means the auditor is highlighting a specific issue or limitation.

Working proactively with your auditor and adviser will help ensure your SMSF remains compliant and well-managed over the long term. For more information, or to answer any questions you might have regarding your audits, contact our team today.

One of the most common challenges we see time and time again in SMSF audits is the back and forth caused by missing or incomplete information.

In most cases, delays can be avoided with a more proactive and structured approach before the file is submitted to your auditor. Here are our tips five tips on audit preparation that will reduce back and forth and lessen turn-around times.

As we move into the final stages of the 2026 financial year, there are several key focus areas that will continue to attract scrutiny from both auditors and the ATO. We encourage our clients to pay proactive attention to these areas in order to reduce audit delays and avoid non-compliance.

The Federal Government’s proposed tax changes for large superannuation balances, also known as the Division 296 tax bill, has officially passed through Parliament as of last night.

From 1 July 2026, individuals with total super balances above $3 million will pay an additional tax on the portion of their super balance above that threshold. While the reform is primarily a tax policy change, it has flow-on implications for self-managed super funds and the way they are administered, valued and audited.

Accurate asset valuations are one of the most common pressure points we see when auditing self managed super funds (SMSF). While trustees and advisers may believe their documentation is sufficient, small technical oversights can quickly escalate into compliance issues, causing delays, and unnecessary back-and-forth with the auditor.