SMSF auditor barred


By Krystine Lumanta

Related Articles: | |

The Australian Securities and Investments Commission (ASIC) has disqualified Neil Wilson of Victoria from being an approved SMSF auditor after he was found to have breached fundamental independence and audit requirements.

Given the nature of the breaches, ASIC deemed it appropriate to disqualify Wilson.

ASIC found he had breached the auditor independence requirements of APES 110 Code of Ethics for Professional Accountants in that he audited a fund of which he was a member.

In addition, he breached the audit documentation requirements of the Australian auditing standards.

“SMSF auditors play a fundamental role in promoting confidence in the SMSF sector, so it is crucial that they adhere to ethical and professional standards,” ASIC commissioner John Price said today.

“ASIC will continue to take action where the conduct of SMSF auditors is inadequate.”

SMSF trustees and members can check whether their auditor is registered or whether a person has been disqualified by searching on ASIC’s SMSF auditor register.

« Back to Articles