Each year an approved SMSF auditor will check the valuation of your fund’s assets to make sure that:

• all assets are valued at 'market value' when preparing the fund's accounts and statements
• the valuation is based on objective and supportable data.

As part of ATO compliance activities, they may review a valuation. During a review you may be asked to provide evidence of the valuation method to allow the ATO to decide whether to accept the valuation.

It’s your responsibility to provide objective and supportable evidence to your auditor to support the valuation of a fund asset, including any documents specifically requested by your auditor.