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SMSF auditor disqualified
The corporate regulator has disqualified Neil Wilson from being an approved self-managed superannuation fund (SMSF) auditor after he had breached fundamental independence and audit requirements.
The Australian Securities and Investments Commission (ASIC) found Wilson had breached:
- Auditor independence requirements of APES 110 Code of Ethics for Professional Accountants where he audited a fund of which he was a member; and
- Audit documentation requirements of Australian auditing standards.
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”.
Wilson was referred to ASIC by the Australian Taxation Office (ATO) under section 128P of the Superannuation Industry (Supervision) Act 1993 (the SIS Act).
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