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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.
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