ASIC disqualifies SMSF auditor - October 2016
ASIC has disqualified an SMSF auditor after determining they had breached independence and audit requirements.
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.
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.