ASIC has disqualified Chiu Man of New South Wales from being an approved self-managed superannuation fund (SMSF) auditor.
ASIC found that Mr Man had breached fundamental audit requirements and was otherwise not a fit and proper person.
In particular, ASIC found that Mr Man had:
- not complied with audit evidence requirements of Australian auditing standards.
- not appropriately responded to inquiries from the Australian Taxation Office (ATO) and ASIC.
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 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