SMSF auditor disqualified over independence breaches
A Western Australia-based SMSF auditor has been disqualified after he audited his own fund and the fund of an immediate family member.
ASIC disqualified Paul Tattersall of Western Australia from being an approved auditor of SMSFs after the regulator found he had breached APES 110 Code of Ethics for Professional Accountants by auditing his own fund and the fund of an immediate family member.
Mr Tattersall also audited a fund where an immediate family member had prepared the financial statements, the corporate regulator said in a public statement.
ASIC commissioner John Price said SMSF auditors play a fundamental role in promoting confidence in the SMSF sector, so it is crucial that they adhere to ethical standards.
“ASIC will continue to take action where the conduct of SMSF auditors is inadequate,” said Mr Price.
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 has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.