The Australian Securities and Investments Commission (ASIC) acted against 36 SMSF auditors in the first half of calendar 2026, including cancelling 21 registrations relating to these practitioners.
The 36 actions were an increase on the 28 that were taken in the previous six months and were performed for breaches of the auditors’ professional obligations, such as failing to maintain independence, failing to lodge annual statements, failing to keep up to date with professional development requirements and practical experience, and non-compliance with auditing and assurance standards.
“SMSF auditors play a fundamental role in promoting confidence and instilling trust in the entire SMSF sector,” ASIC commissioner Kate O’Rourke said.
“It is crucial that SMSF auditors comply with their regulatory obligations. ASIC will continue to take action where they do not meet these obligations.”
In addition to cancelling the registration of 21 auditors, ASIC disqualified Christopher Edwards, Derek Grima, Alexander Papazoglou and Bruce Rowntree. In line with standard procedure, they were placed on the corporate regulator’s public banned and disqualified register.
Further, Mussarut Mirza, Wenjie Jiang and Huan Yu were all suspended for one year. Jiang has requested ASIC reconsider the suspension, but the outcome of that request has not yet been decided.
Of the 21 auditors who had their registration cancelled, 19 received this penalty for not complying with their obligations to lodge multiple annual statements. However, cancellation was reinstated after a review of the decision was sought.
In total, last financial year ASIC disqualified eight SMSF auditors, suspended three, imposed additional conditions on 10 and cancelled the registrations of 43.
The regulator reminded SMSFs and their service providers anyone can search for a registered SMSF auditor and their current status on the ASIC website. The information contained there also includes practitioners banned from participating in credit activity, Australian financial licensee banned and disqualified persons, banned corporate bodies and banned securities and futures representatives.
ASIC suggested people check the register before they engage any kind of financial service-related person or organisation.
