Powered by MOMENTUM MEDIA
subscribe to our newsletter

ASIC strikes off another SMSF auditor

Reporter
02 December 2015 — 1 minute read

ASIC has disqualified an SMSF auditor after finding he had breached his independence requirements and that he was not a fit and proper person to be an approved SMSF auditor.

ASIC announced this morning it found that NSW-based Abe Samuel had breached auditor independence requirements of APES 110 Code of Ethics for Professional Accountants where he was a member of a fund he audited and also the director of its corporate trustee.

He was also the power of attorney holder for, and a relative of, a member of a fund he audited.

Advertisement
Advertisement

"It is critical that approved SMSF auditors perform their role adequately and meet professional standards to promote confidence in the SMSF sector,” said ASIC commissioner John Price.

“Compliance with the independence requirements is fundamental in fostering this confidence. ASIC will continue to follow up matters referred by the ATO concerning the quality of SMSF auditors,” he said.

This is the second disqualification ASIC has announced this week.

 

ASIC strikes off another SMSF auditor
smsf logo
smsfadviser logo

Are you up to date with the legislative changes from 1 July? Contribution cap increases, super guarantees, age increases, SG rate increases. The budget announcement changes. Don’t be caught off guard by your clients’ questions. Prepare for any scenario with the SMSF Foundations course. 21 CPD hours available. Learn more

join the discussion

Latest poll

Do you have clients that are aged 65 or 66 planning to trigger the bring forward rules?

SUBSCRIBE TO THE
SMSF ADVISER BULLETIN

Get the latest news and opinions delivered to your inbox each morning

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.