The Australian Taxation Office has issued a note on valuation of SMSF assets.
It's no longer acceptable to ignore the market value of a fund's assets, and this is increasingly relevant with more property finding a place in SMSF portfolios. For 2012/13 and later, SMSF trustees must value their fund's assets at market value when preparing financial accounts. The ATO provides guidelines on how SMSF trustees should comply.
https://www.ato.gov.au/Super/Self-managed-super-funds/Administering-and-reporting/Value-the-fund-s-assets/