ASIC’s tough warning to SMSF auditors
The Australian Securities and Investments Commission (ASIC) has placed 185 approved self-managed superannuation fund (SMSF) auditors on notice to lodge their annual statements or face deregistration.
The regulator said today it had sent a final warning to the 185 auditors that their registration will be cancelled if their outstanding annual statements are not lodged with fees paid by 22 July 2016.
It said the warning had been issued as part of a compliance program.
ASIC said it had sent emails and letters and telephoned the auditors using the current contact details provided by them and that while most of the auditors responded by lodging their outstanding annual statements and paying their lodgement fees, 185 auditors are still yet to comply.
"There has been ample time for auditors to come to grips with their responsibilities and multiple reminders have been issued," the regulator said.
"Auditors who do not ensure that they are aware of and meet their obligations face the risk of losing their registration."
"An unregistered auditor is not permitted to audit an SMSF. Conducting an audit of an SMSF when not permitted to do may have further serious consequences for the fund and the auditor."
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