POWERED BY MOMENTUM MEDIA
ASIC disqualifies another as SMSF auditor
The Australian Securities and Investments Commission (ASIC) has disqualified the third person this week from being an approved self-managed superannuation fund (SMSF) auditor.
The watchdog found James Dermody as not a fit a proper person to act as an approved SMSF auditor as he signed independent auditor's reports and auditor independence declarations for two companies when he was not a registered company auditor during 30 June 2013 and 2014.
Commenting, ASIC commissioner John Price said, "Auditors are important gatekeepers who play a crucial role in the SMSF sector. SMSF auditors must maintain high standards or ASIC will hold them to account".
SMSF trustees and members can check whether their auditor is registered, or if a person has been disqualified by searching ASIC's SMSF auditor register.
Recommended for you
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.
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
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
