The Australian Securities and Investments Commission (ASIC) has charged Kristian John Convery of Melbourne with acting as an SMSF auditor while earlier being disqualified to do so under the provisions of the Superannuation Industry (Supervision) (SIS) Act following an earlier regulator-led investigation.
The latest charges have resulted from allegations that Convery continued to provide services as an SMSF auditor to four tax agents and 56 entities after his initial banning.
In addition, it is alleged he created a series of false documents in the form of a letter and 47 audit reports with the intention of having them accepted as genuine by other parties or for obtaining a gain.
The matter was heard for the first time in the Melbourne Magistrates Court today and was listed for further mention on 4 March 2026.
The Director of Public Prosecutions is handling the case following a referral by ASIC.
Convery was permanently disqualified from providing SMSF audit services in May 2024 after being referred to ASIC along with several other practitioners after the ATO expressed its concerns over a range of compliance short comings.
These included a failure to meet the auditing standards and independence requirements, not satisfying continuing professional development obligations and instances where individuals were deemed unfit to continue as approved SMSF auditors.
At the time, Convery made a request to ASIC for it to reconsider the punitive measure handed down only to have the decision confirmed.
He now faces severe punishment as the maximum penalty for making a false document with the intention it be accepted as genuine is 10 years’ imprisonment, while falsifying documents with the intention of obtaining a gain carries with it a seven-year jail term.
Further, acting as an auditor of a superannuation entity for the purpose of the SIS Act while knowingly being disqualified can result in a maximum penalty of two years’ imprisonment.
