Philip James Dowsley, a sole practitioner based in Kew, has been given a six-month suspension following an ASIC investigation into his conduct.
The CALDB found Mr Dowsley failed to comply with a condition attached to his registration; failed to correctly complete five separate forms lodged with ASIC – namely, three annual auditor statements, his application for registration as an SMSF auditor, and his SMSF auditor annual statement; and was not a fit and proper person to remain registered as an auditor.
ASIC's application to the CALDB followed an investigation that found Mr Dowsley failed to comply with conditions that were attached to his registration as a company auditor following a previous ASIC investigation in 2012. The CALDB found that compliance with the conditions was still outstanding.
The CALDB also found that Mr Dowsley was prepared to attest to the accuracy and completeness of the forms by signing them without fully or properly checking them. In each statement, Mr Dowsley falsely and misleadingly stated that his registration was not subject to any conditions. This course of conduct occurred over a period of three years and was found by the CALDB to be "grossly careless".
ASIC Commissioner John Price said, "ASIC will continue to take action against auditors who fail to comply with conditions attached to their registration and whose conduct falls short of required professional standards".
After taking into account medical problems that he experienced during the relevant period, the CALDB suspended Mr Dowsley's registration as a company auditor and ordered that he provide undertakings to the CALDB. These included undertakings to:
- comply with the current condition on his registration;
- continue his current medical treatment during the period of suspension and to have his medical fitness independently verified before the end of that period;
- complete additional professional development activity; and
- following the period of suspension, subject his company audits to peer review.
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