The corporate regulator has disqualified a Queensland SMSF auditor from being an approved auditor for breaching independence requirements.
The Australian Securities and Investments Commission (ASIC) found Kate Campbell breached the auditor independence requirements of APES 110 Code of Ethics for Professional Accountants when she audited the funds of close family members and other relatives.
Campbell also failed to comply with the continuing professional development requirements of the Superannuation Industry (Supervision) (SIS) Act 1993.
ASIC commissioner John Price said: “SMSF auditors play a fundamental role in promoting confidence in the SMSF sector so it is crucial that they adhere to ethical standards.
“ASIC will continue to take action where the conduct of SMSF auditors is inadequate.”
The ATO referred Campbell to ASIC under section 128P of the SIS Act.
SMSF trustees and members can check whether their auditor is registered or whether a person has been disqualified by searching ASIC’s SMSF auditor register.
