Mr Evennett was found to have breached audit evidence requirements of Australian auditing standards, as well as auditor independence requirements of APES 110 Code of Ethics for Professional Accountants.
ASIC commissioner John Price stated that SMSF auditors are essential when it comes to maintaining the image of the SMSF sector, which is why auditors must always adhere to their professional standards.
“ASIC will continue to take action where the conduct of SMSF auditors is inadequate,” Mr Price concluded.
I’m not supporting this Auditor and yes we have all seen horrible investment planning inside SMSF’s however I am amazed how ASIC has not banned all those responsible employees of CBA for all the infringements the bank has been caught out with. It would possibly shut down the whole Bank.
Yes, when the rose coloured property glasses go on and the finance brokers are standing by, best not to look too closely at some of these SMSF and gearing setups.
I don’t know anything about this person but I have seen a number of examples of poor quality audits that have been conducted with respect to SMSFs – when I say poor quality I doubt if any audit related work was conducted at all.