In its annual report, ASIC said it deregistered 373 SMSF auditors for not meeting a requirement to pass a competency exam.
Another two SMSF auditors were deregistered as a result of deficient audits.
ASIC also registered 123 SMSF auditors in 2014–15.
At 30 June 2015, there were 6,669 registered SMSF auditors, down from 7,073 in the 2013-14 financial year.
Enquiries to ASIC’s customer contact centre regarding SMSFs dropped from 3,708 in the 2013-14 financial year to 3,140 in the 2014-15 financial year.
ASIC also completed 557 high-intensity surveillances, including risk-based surveillances focused on financial advice (life insurance and SMSFs), property schemes disclosure, payday lenders and home building and motor vehicle insurance.
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