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ASIC cancels company auditor’s registration

The corporate regulator has cancelled the registration of a Victorian company auditor as it was continuing proceedings against him before the Companies Auditors Disciplinary Board.

ASIC cancels company auditor’s registration
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Philip James Dowsley requested ASIC cancel his registration as a company auditor as it was undertaking proceedings against him before the Companies Auditors Disciplinary Board, according to a statement.

The cancellation took effect on 31 March 2018.

ASIC initially took the CADB action against Mr Dowsley in October 2015 because he had failed to comply with undertakings he gave to the former Companies Auditors and Liquidators Disciplinary Board (CALDB).

It also took the action against Mr Dowsley due to the adverse outcomes of an independent peer review of Mr Dowsley’s first four audits following his completion of a suspension ordered by the CALDB.

On that occasion, ASIC suspended Mr Dowsley’s registration as a company auditor for six months following a successful application to CALDB.

The CALDB found he had failed to comply with a condition attached to his registration and failed to correctly complete five separate forms lodged with ASIC - three annual auditor statements, his application for registration as an SMSF auditor and his SMSF auditor annual statement.

In addition, the CALDB found he was not a fit and proper person to remain registered as an auditor.

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