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Dozens of SMSF auditors receive penalties
['Tom Ravlic']
The Mandarin
The Australian Securities and Investments Commission has recently thrown the book at 36 self-managed superannuation fund auditors for compliance failures.
ASIC officials disqualified four SMSF auditors, suspended three, imposed additional conditions on the registration of eight, and cancelled the registrations of 21 auditors in the six months to June 30 this year.
This brings the number of SMSF auditors who have been the subject of enforcement action to 64 for the 2025-26 financial year.
An ASIC statement issued in the past week says that the 36 SMSF auditors pinged since the start of the calendar year were taken action against the auditors for a range of reasons, including failure to demonstrate independence, failure to meet auditing and assurance standards, and failure to meet continuing professional development requirements.