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.