Market valuation of assets and the role of auditors

News Tax & Compliance Sanctions & Fines

Date: 20th Mar, 2025 Source: Australian Taxation Office (ATO) Country: Australia Original Source

Brief

"On March 20, 2025, the Australian Taxation Office (ATO) issued an update regarding Market valuation of assets and the role of auditors. The ATO emphasized that trustees must value SMSF assets at market value annually, while auditors must obtain evidence to support these valuations, failing which they may lodge an Auditor contravention report or face compliance action.

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Australian Taxation Office (ATO)

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Market valuation of assets and the role of auditors

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Market valuation of assets and the role of auditors

Brief

Australian Taxation Office (ATO)

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