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CPD failures, breaches prompt auditor disqualification

CPD failures, breaches prompt auditor disqualification

A Queensland-based auditor has been dumped by ASIC after major independence failures and continuing professional development slip-ups.

Business Katarina Taurian 17 August 2018

ASIC disqualified Kate Campbell from being an approved SMSF auditor after she audited the funds of close family members and relatives. This is a breach of APES 110 Code of Ethics for Professional Accountants.

Further, Ms Campbell didn’t comply with the continuing professional development (CPD) requirements of the Superannuation Industry (Supervision) Act. Part of SMSF auditor registration, introduced in 2013, was setting base standards of competency and expertise.

This is the second disqualification notice ASIC has announced this week for an SMSF auditor, and the latest in a long line of auditor registration cancellations since 2013.

Accountants should also note that the Tax Practitioners Board recently announced about 1,000 tax agents are set for a CPD audit this financial year.

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CPD failures, breaches prompt auditor disqualification
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