ASIC moves on SMSF auditors

The Australian Securities and Investments Commission (ASIC) has disqualified two self-managed superannuation fund auditors and imposed conditions on the operations of another.

The regulator announced that it had disqualified Darryl Iseppi of Queensland for significant auditor independent breaches and deficiencies and Alan Bentwitch of NSW for failing to comply with a condition to have peer reviews of three of his audits in line with a condition imposed following a referral from the Australian Taxation Office (ATO).

ASIC said that it had also imposed conditions of Richard Hennessy of NSW for deficiencies in maintaining auditor independence and in audit work, including auditing the ownership and valuation of fund assets and ensuring compliance with legislative borrowing requirements.

The regulator said that information about the three auditors had been referred to ASIC by the ATO.




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