Trustees and accountants can play an active role in compiling sufficient property valuation information for an SMSF audit.

SMSF auditor numbers are declining and recent changes to independence and fees are likely to drive that trend further.

The proposal to introduce a hard limit on audit fees originating from one referral source has been opposed by the SMSF Association.

The ATO has advised SMSF accounting firms they should not complete audits for a fund where they also provided oversight and advice to the trustees of the fund.