The regulator said it took these actions for various breaches of professional obligations, such as failing to maintain independence, non-compliance with auditing and assurance standards, non-compliance with continuing professional development requirements, failure to lodge annual statements, and/or for not being a fit and proper person to remain an approved SMSF auditor.
It stated SMSF auditors are responsible for providing assurance on assets worth $1 trillion held in over 646,000 SMSFs and are gatekeepers that contribute to the integrity and confidence in the SMSF regime.
Between 1 January 2025 and 30 June 2025, the Australian Securities and Investments Commission (ASIC):
- Disqualified three SMSF auditors.
- Imposed additional conditions on 12 SMSF auditors.
- Cancelled the registration of 13 SMSF auditors.
Jean-Marcel Majman, Allan Tan, and Kennedy Weldemariam were disqualified from being SMSF auditors. Weldemariam requested that ASIC reconsider its disqualification decision, and the disqualification was confirmed.
Mark Baghdassarian, Shane Brewer, Joseph Choueifaty, Robert Goodwin, Wei He, Owen Houston, Justin Ko, Andrew McConaghy, Dinesh Nanayakkara, Jignesh Raj, Anthony Reynolds and Angelo Russo had additional conditions imposed on their SMSF auditor registrations.
A full list of the conditions imposed can be accessed by searching the SMSF auditor’s name in ASIC’s Professional Registers Search.
The ASIC cancelled the registration of 13 SMSF auditors for failing to comply with their obligation to lodge annual statements.
ASIC announced action taken against SMSF auditors in the second half of 2024 in March 2025, along with the suspension of three high-volume SMSF auditors in October 2024..
Between 1 July 2024 and 30 June 2025, ASIC made 48 decisions in relation to the registration of approved SMSF auditors, resulting in the:
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Disqualification of seven SMSF auditors.
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Suspension of three SMSF auditors.
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Imposition of additional conditions on 14 SMSF auditors.
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Cancellation of the registration of 24 SMSF auditors.
Approved SMSF auditors are registered with ASIC under the Superannuation Industry (Supervision) Act 1993 (SIS Act).
