2026 SMSFA National Conference Highlights What’s Shaping SMSF Compliance and Audit Priorities This Year
- Feb 20
- 3 min read
Key themes emerging from the 2026 Self-Managed Super Fund Association (SMSFA) National Conference and the Australian Taxation Office’s (ATO) insights.
As trusted partners in SMSF assurance, we at Superannuation Audit Services want to share the key themes emerging from the 2026 Self-Managed Super Fund Association (SMSFA) National Conference and the Australian Taxation Office’s (ATO) insights. These updates are invaluable for accounting firms and SMSF professionals supporting trustees with compliance, risk management and audit preparedness.
ATO Signals Strong Compliance Focus in 2026
At the conference in Adelaide, the ATO’s Deputy Commissioner of Superannuation and Employer Obligations outlined several compliance priorities that are likely to influence how SMSFs operate and are audited this year.
Annual Return Lodgement Above All Else
Timely lodgement of SMSF annual returns remains the cornerstone of compliance. The ATO highlighted that tens of thousands of funds have outstanding returns, including many that have never lodged at all. When lodgements are late or missing, funds risk administrative consequences such as the removal of regulatory details from Super Fund Lookup and heightened scrutiny from regulators.
For accounting firms assisting trustees, this underscores the need for robust lodgement tracking and proactive engagement with clients well ahead of due dates.
Rising Risks Around Illegal Early Access and Prohibited Loans
The ATO’s analysis shows that illegal early access to super and prohibited loans continue to be areas of concern. While the total estimate of illegally accessed amounts remains significant, recent data also points to a growing trend in prohibited loans within the SMSF sector.
These activities not only threaten trustee compliance but can have cascading effects on the SMSF’s tax status and reputation. Ensuring trustees understand the strict conditions governing early access and related party transactions is essential for you and your clients.
Governance and Trustee Behaviour Remain Under the Microscope
The regulator continues to see behavioural indicators—such as funds established, rolled over and then left dormant—that suggest funds may not be intended to operate legitimately. Compliance is as much about behaviour as it is about reporting, and trustees who lose sight of governance obligations risk enforcement action.
As audit practitioners, you play a critical role in reinforcing good governance and helping trustees understand when compliance risks arise long before they escalate.
What This Means for Audit and Accounting Practices
From an audit and compliance perspective, the conference highlighted a few important takeaways that directly affect how accountants and SMSF auditors support trustees:
Elevating Audit Quality Standards
Sessions at the conference reinforced that the ATO’s expectations around audit quality and evidence gathering are evolving. While specific guidance varies by scenario, a clear theme was the importance of thorough documentation, objective evaluations and professional scepticism in audit work.
This underscores the value of audit firms maintaining rigorous processes and continuous professional development to align with regulator expectations.
Navigating Tax and Structural Reform Conversations
Legislative and policy reforms—such as changes in super tax settings and the treatment of large balances under Division 296—also featured prominently in discussions. Accounting firms that understand the implications of these reforms are better placed to counsel clients on tax planning, fund structuring and long-term strategy.
Collaboration and Education Remain Key
Finally, the growth beyond traditional SMSF demographics and increasing numbers of unadvised trustees highlight the importance of education and collaboration. Whether it’s guiding trustees on compliance basics or interpreting complex regulatory change, the role of accountants and auditors as educators has never been more vital.
How Superannuation Audit Services Can Support You
At Superannuation Audit Services, we understand that staying on top of regulatory shifts and compliance focus areas can be challenging. Our professional and independent SMSF audit services help you:
Deliver clear guidance and peace of mind to clients on compliance obligations
Address risk areas before they become issues
Stay aligned with current ATO compliance priorities
Support professional standards and governance expectations
If your firm needs expert auditing support or has questions about how these developments may affect your SMSF clients, our team is here to help.
Contact Superannuation Audit Services today to discuss how we can work together to strengthen the compliance and governance of your clients’ SMSFs. Book a FREE no-obligation consultation
Disclaimer: This communication is for general informational purposes. For tailored advice specific to your firm’s circumstances, please contact us directly
