ASIC announced Pierre Jarjoura of NSW has been disqualified from being an approved SMSF auditor after it found Mr Jarjoura had breached auditor independence requirements of APES 110 Code of Ethics for Professional Accountants.
According to the corporate regulator, Mr Jarjoura had audited a fund of which he was a member and the trustee.
ASIC also determined that he had breached the requirements of Australian auditing standards to adopt appropriate procedures for properly maintaining audit documentation.
Information about Mr Jarjoura was referred to ASIC by the Australian Taxation Office under section 128P of the Superannuation Industry (Supervision) Act 1993 (the SIS Act).
ASIC commissioner John Price said SMSF auditors play a fundamental role in promoting confidence in the SMSF sector so it is crucial they adhere to ethical and professional standards.
“ASIC will continue to take action where the conduct of SMSF auditors is inadequate,” Mr Price said.
Stupidity should be punished