ASIC just announced that has disqualified John Evennett of New South Wales from being an approved self-managed superannuation fund (SMSF) auditor.
ASIC determined that Mr Evennett had breached fundamental independence and audit requirements. Given the nature of these breaches, it was considered appropriate to disqualify Mr Evennett.
ASIC found that Mr Evennett had breached:
- auditor independence requirements of APES 110 Code of Ethics for Professional Accountants, where he audited the fund of his immediate family member; and
- audit evidence requirements of Australian auditing standards.
ASIC Commissioner John Price said:
SMSF auditors are fundamentally important in promoting confidence in the SMSF sector. It is crucial that auditors adhere to ethical and professional standards. ASIC will continue to take action where the conduct of SMSF auditors is inadequate.