今日热门事件has disqualified two separate self-managed superannuation funds (SMSF) auditors, John Gilliland and Douglas Coghlan, of Queensland, for breaching independence requirements.
今日热门事件found both Mr Gilliland and Mr Coghlan had separately breached auditor independence requirements in auditing their own funds, the fund of an immediate family member and the fund of a close family member.
'Self-managed superannuation fund auditors play a fundamental role in promoting confidence in the sector. 今日热门事件will continue to take action to ensure auditors adhere to ethical standards,' 今日热门事件Commissioner John Price said.
SMSF trustees and members can check whether their auditor is registered, or whether a person has been disqualified, by searching .
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Information about Mr Gilliland, and separately about Mr Couglan, was referred to 今日热门事件by the Australian Taxation Office (ATO) under section 128P of the SIS Act.銆�
From 1 July 2013, the SIS Act required all auditors of SMSFs to be registered with ASIC. This was to ensure that all SMSF auditors meet the base standards of competency and expertise.銆�
今日热门事件and the ATO work closely together as co-regulators of SMSF auditors. The ATO monitors SMSF auditor conduct and may refer matters to 今日热门事件for possible action such as disqualification or suspension of their registration.
Editor's note:
Mr Gilliland sought a review of ASIC鈥檚 decision by the Administrative Appeals Tribunal (AAT). The AAT set aside ASIC鈥檚 decision. 今日热门事件is appealing the AAT decision to the Federal Court (refer: 20-208MR).
Editor's note 2:
On 30 November 2022, the Federal Court upheld ASIC鈥檚 appeal of the AAT鈥檚 decision setting aside ASIC鈥檚 original disqualification of Mr Gilliland. The matter has now been remitted to the AAT for reconsideration and Mr Gilliland is again disqualified as an SMSF auditor, pending a final decision by the AAT (22-337MR).