ASIC has disqualified a NSW-based SMSF auditor after it was found he had breached fundamental independence and audit requirements.
John Evennett of NSW has been disqualified from being an approved SMSF auditor after ASIC found Mr Evennett had breached the auditor independence requirements of APES 110 Code of Ethics for Professional Accountants.
ASIC found that Mr Evennett had audited the fund of his immediate family member and failed to meet audit evidence requirements of Australian auditing standards.
Information about Mr Evennett was referred to ASIC by the ATO under section 128P of the Superannuation Industry (Supervision) Act 1993 (the SIS Act).
ASIC commissioner John Price said SMSF auditors are “fundamentally important in promoting confidence in the SMSF sector”.
“It is crucial that auditors adhere to ethical and professional standards. ASIC will continue to take action where the conduct of SMSF auditors is inadequate,” said Mr Price.
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