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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).
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