iscoverThe corporate regulator has accepted the cancellation of a company auditor’s registration for independence compliance failures.
Company auditor applies for registration cancellation: ASIC
09 September 2025
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7 minute read
Last Friday (5 September), ASIC accepted the auditor registration cancellation of Allan William Donald, following a broader investigation into his conduct.
The acceptance of Donald’s application for the cancellation of his registration as a company order came after ASIC expressed concern that he may not have complied with the independence requirements of auditors under the Corporations Act 2001 and the APES 110 Code of Ethics for Professional Accountants.
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Kate O’Rourke, ASIC commissioner, said ASIC had conducted an investigation which will soon be published to share the findings from the review and expected to announce further action as a result of the issues identified through this surveillance.
“This outcome is part of our broader surveillance of auditor independence and our commitment to improving the integrity and quality of auditing in Australia,” she said.
ASIC said it identified issues through a “proactive surveillance” focused on auditors’ compliance with independence and conflict of interest requirements.
ASIC revealed it had developed concerns that Donald had not complied with his independence requirements when he was appointed as auditor for two related large proprietary companies between 1992 and 2022.
It was noted that the regulator had concerns regarding Donald’s independence requirements by having engaged in audit activities while being company secretary of the audited bodies, which constituted a prohibited relationship and that he provided prohibited non-assurance services to the audited body.
Additionally, Donald had maintained a long association with the audit clients without adequate independence threat assessments and safeguards in place, exacerbating ASIC’s concern.
Before ASIC planned to reveal other findings and further action plans, ASIC said that Donald had co-operated with its inquiries and that he had submitted his independence breaches were inadvertent.
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