The registrations of 117 approved SMSF auditors have been cancelled, for failing to lodge their annual statements, ASIC has announced.
In November 2017 ASIC sent a final warning to 404 SMSF auditors with outstanding annual statements, with 287 of these auditors lodging their annual statements.
ASIC sent notice of cancellation to the remaining 117 auditors on 20 February 2018.
“An unregistered auditor is not permitted to audit a SMSF. Conducting an audit of an SMSF when not permitted to do so may have further serious consequences for the fund and the auditor,” said ASIC.