The Administrative Appeals Tribunal (AAT) has made the decision to reinstate Manoj Abichandani’s registration as an approved SMSF auditor.
In October 2015, the Australian Securities and Investments Commission (ASIC) disqualified New South Wales-based Abichandani from being an approved SMSF auditor.
Abichandani applied for a review of ASIC’s decision.
On 8 November, the AAT set aside ASIC’s decision, saying Abichandani had not intentionally made false statements to the corporate watchdog and he was a fit and proper person to be an approved SMSF auditor.
In response to his reinstatement, he said: “I understand that the SMSF auditor’s role is an important one and should be conducted with the utmost honesty and integrity.
“Those auditors who do not take their role seriously or adequately and meet professional standards have no place in the whole process of trustees managing their superannuation interests.
“The ATO monitoring the role of SMSF auditors is a key measure of auditors’ competency and independency requirements and gives assurance to trustees as to the quality of SMSF auditors.
“I am glad to be registered again as an SMSF auditor and look forward to continue to service my profession in the SMSF sector, as I have for the past 27 years with utmost integrity.”