Quantcast
Subscribe to our newsletter

ASIC boots third auditor in August

The corporate regulator has disqualified a NSW man from being an approved SMSF auditor for breaching fundamental audit requirements.

ASIC boots third auditor in August
smsfadviser logo
  • jlian
  • September 01, 2017
share this article

ASIC announced yesterday that it had disqualified Chiu Man from being an approved SMSF auditor following investigations after being referred by the ATO under section 128P of the Superannuation Industry (Supervision) Act 1993 (the SIS Act).

The corporate regulator found that Mr Man had not complied with audit evidence requirements of Australian auditing standards, and had not appropriately responded to inquiries from the ATO and ASIC.

Mr Man’s disqualification is the third such ban for SMSF auditors in August as ASIC and the ATO continues its focus on auditors ever since SMSF auditors were required to be registered since July 2013.

“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.

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

Receive the latest Public Accountant news,
opinion and features direct to your inbox.

related articles