From www.accountantsdaily.com.au: The ATO has outlined its focus areas for SMSF auditor compliance in 2025, emphasising the verification of market valuations and the need for auditors to retain sufficient evidence.

With over 32,000 new funds entering the sector in 2024, the regulator will scrutinise high-risk auditors and disqualified trustees while ensuring adherence to independence requirements.

Auditors conducting large volumes of audits or using low, fixed-price models are under particular scrutiny due to concerns about audit quality.