Untruthful statements that were deliberately misleading has led to the disqualification of Manoj Abichandani from being an approved self-managed super fund (SMSF) auditor.
The Australian Securities and Investments Commission (ASIC) found Abichandani was not a fit and proper person to be an approved SMSF auditor.
ASIC imposed additional conditions on Abichandani's registration for him to undertake further professional development, and submit for an independent review of three of his subsequent audits with the expectation that by meeting the conditions he might address the concerns.
Abichandani requested a review of the conditions and as part of this process made statements to ASIC that were untruthful and deliberately misleading.
The disqualification was also subject to further review, which found among other things that his statements were made for the purpose causing ASIC to erroneously accept that he had no understanding of the audit work that had been undertaken and the findings made as a result of that audit work.
Abichandani has lodged an application with the Administrative Appeals Tribunal for a review of ASIC's disqualification decision.