ASIC has disqualified John Evennett of New South Wales from being an approved self-managed superannuation fund (SMSF) auditor. ASIC determined that Mr Evennett had breached fundamental independence and audit requirements. Given the nature of these breaches, it was considered appropriate to disqualify Mr Evennett.
ASIC found that Mr Evennett had breached:
- auditor independence requirements of APES 110 Code of Ethics for Professional Accountants, where he audited the fund of his immediate family member; and
- audit evidence requirements of Australian auditing standards.
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.’
SMSF trustees and members can check whether their auditor is registered, or whether a person has been disqualified, by searching ASIC’s SMSF auditor register at connectonline.asic.gov.au.
Licensed from the Commonwealth of Australia under a Creative Commons Licence.
The Commonwealth of Australia does not necessarily endorse the content of this publication.