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4 July 2024

The Australian Tax Office (ATO) has recently updated the self-managed superannuation fund (SMSF) independent auditor's report, effective for reporting periods starting on or after July 1, 2024.

Key Changes:

Auditing Standard Reference Update:
The reference to Auditing Standard ASQC 1 in Part B of the report has been replaced with Auditing Standard ASQM 1. All compliance requirements remain unchanged.

Important Actions for SMSF Auditors:
Download and Use the Updated Report: The updated SMSF independent auditor's report must be used for relevant reporting periods. For periods prior to July 1, 2024, ensure compliance with the standards and legislation of that time.

Report Distribution:

  • Provide each SMSF trustee with a signed copy of the report within 28 days after receiving all necessary documents from the trustee.

  • Retain a copy of the report for your records.

  • There is no need to send a copy to the ATO.

For further information on lodging your Independent Auditor’s Report, visit the ATO’s Self-managed Super Fund page.


This update ensures that SMSF audits are conducted in accordance with the latest auditing standards, promoting compliance and accuracy in the management of self-managed superannuation funds.

About Superannuation Audit Services


Superannuation Audit Services is a leading SMSF auditing company based in Melbourne, with a broad reach servicing clients Australia wide. Our experienced team is dedicated to delivering reliable and thorough audit services to ensure compliance with regulatory requirements, offering peace of mind to our clients.

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