The Australian Securities and Investments Commission has taken audit firm Auditeo Australia Pty Ltd and two of its auditors to the Federal Court over alleged audit failures involving the First Guardian Master Fund. ASIC alleges Auditeo and its auditors, Ajm Didarul Islam Khan and Brian Robert Taylor, signed off on audits of financial statements and compliance plans that were false or misleading. If proven, the allegations would constitute breaches of the Corporations Act, along with auditing, ethical, and other professional standards.