ASIC has disqualified another SMSF auditor for breaches of the independence requirements – the second this week and the seventh so far this year relating to independence issues. Eight SMSF auditors in total have been disqualified by ASIC so far in 2018.
ASIC announced that it has disqualified Kate Campbell, of Queensland, from being an approved SMSF auditor.
The regulator says it found that Mrs Campbell had breached the independence requirements in APES 110 Code of Ethics for Professional Accountants by auditing the SMSFs of “close family members and other relatives”. It also says that Mrs Campbell failed to comply with the continuing professional development requirements in the SIS Act.