CA in hot water with ASIC

CA in hot water with ASIC

ASIC has accepted voluntary undertakings (VUs) from two registered liquidators of a chartered accounting firm in Western Australia.

In an announcement yesterday, the corporate regulator stated it has accepted VUs from George Lopez and Evan Verge, both of Melsom Robson Chartered Accountants.

Chartered Accountants Australia and New Zealand confirmed with AccountantsDaily that Mr Lopez is a member and Mr Verge is an affiliate member. 

The VUs require the liquidators to engage an independent expert to provide training to Mr Lopez and Mr Verge and to their firm’s professional staff, with an emphasis on promoting an improved compliance culture.

They also require the liquidators to engage a suitably qualified independent quality reviewer to undertake a review of three external administrations selected by ASIC. The reviewer is required to assess compliance with the duties and obligations imposed upon registered liquidators and report their findings to ASIC.

“ASIC’s ongoing industry-wide project to test compliance with registered liquidators’ obligations to lodge documents and publish notices required under the law continues to identify practitioners not complying with basic obligations,” ASIC said.

Mr Lopez and Mr Verge acknowledged the non-compliance and have taken the necessary steps to rectify it, ASIC said.

In late 2013, ASIC advised all registered liquidators of its published notices website and non-lodgements project to test compliance with reporting and publishing requirements.

CA in hot water with ASIC
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