ob体育 has disqualified Oscar Altavilla, of Victoria, from being an approved auditor of self-managed superannuation funds (SMSFs) for breaching independence and auditing standards, and otherwise not being a fit and proper person.
ob体育 found that Mr Altavilla:
- had breached the auditor independence requirements in auditing his business partner鈥檚 fund. 聽
- had not obtained sufficient appropriate audit evidence that an SMSF鈥檚 assets were recorded at the required market values and were properly held in the name of the fund.
- was otherwise not a fit and proper person because he made false representations in annual returns for his own SMSF stating that the fund had been audited when it had not.
'Self-managed superannuation fund auditors play a fundamental role in promoting confidence in the SMSF sector, so it is crucial that they adhere to ethical standards. ob体育 will continue to take action where the conduct of auditors is inadequate,' ob体育 Commissioner John Price said.銆�
SMSF trustees and members can check whether their auditor is registered, or whether a person has been disqualified, by searching ob体育's SMSF auditor register:
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Information about Mr Altavilla was referred to ob体育 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 ob体育. This was to ensure that all SMSF auditors meet the base standards of competency and expertise.銆�
ob体育 and the ATO work closely together as co-regulators of SMSF auditors. The ATO monitors SMSF auditor conduct and may refer matters to ob体育 for possible action such as disqualification or suspension of their registration.