POWERED BY MOMENTUM MEDIA
SMSF auditor disqualified by ASIC
New South Wales-based self-managed superannuation fund (SMSF) auditor, Kathleen Whittle has been disqualified by the Australian Securities and Investments Commission (ASIC) after breaching auditor independence requirements.
ASIC found that Whittle breached the auditor independence requirements of APES 110 Code of Ethics by performing audit duties for immediate family and friends.
Commenting on Whittle’s disqualification, ASIC commissioner, John Price said: “ASIC will continue to take action where the conduct of SMSF auditors is inadequate".
“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," he said.
Information which pertained to Whittle’s conduct was referred to ASIC by the Australian Taxation Office (ATO).
Recommended for you
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
Cbus Super has unveiled Advice Essentials Plus, a new service offering affordable financial advice to both members and their partners.
The fund has launched a new tool to help deliver personalised financial education and digital personal advice to eligible members.
The QAR lead reviewer has told a Senate committee that the government’s demands of super funds conflict with their original purpose.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.57 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
32.09 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.42 3 y p.a(%)
