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ASIC strips Victorian auditor's registration

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ASIC strips Victorian auditor's registration

The corporate regulator has cancelled the registration of a Victorian auditor after facing disciplinary action for failing to comply with undertakings from his earlier six-month suspension.

Tax&Compliance Jotham Lian 28 May 2018
— 1 minute read

ASIC has cancelled the registration of Philip James Dowsley as a registered company auditor after he requested the cancellation during the course of proceedings brought by the corporate regulator before the Companies Auditors Disciplinary Board (CADB).

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The cancellation took effect on 31 March 2018.

ASIC took the CADB action because Mr Dowsley had failed to comply with undertakings he gave to the former Companies Auditors and Liquidators Disciplinary Board (CALDB) in October 2015, and due to the adverse outcomes of an independent peer review of Mr Dowsley’s first four audits following his completion of a suspension ordered by the CALDB.

Mr Dowsley was previously suspended for six months in 2015 after the CALDB found that he had 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.

As part of the suspension, the CALDB ordered, among other things, that Mr Dowsley provide undertakings to comply with the conditions on his registration; complete additional professional development activity; and following the period of suspension, subject his company audits to peer review.

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ASIC strips Victorian auditor's registration
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Jotham Lian

Jotham Lian

Jotham Lian is the news editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.

With a focus on breaking news and exclusive analysis, Jotham keeps Accountants Daily readers up to date with company moves, tax updates and essential business and client strategy. 

Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.

You can email Jotham at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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