ob体育 has cancelled the registration of 10 auditors of self-managed superannuation funds (SMSFs) who failed to lodge their annual statements. This follows reinstatement of their SMSF auditor registrations after ob体育鈥檚 previous cancellation for not lodging annual statements.
These auditors requested ob体育 to review its previous decision to cancel their registration. ob体育 considered each SMSF auditor鈥檚 individual circumstances and reinstated their registrations with a clearly stated expectation that they would comply with their on-going obligation to lodge their annual statements.
ob体育 has recently informed all SMSF auditors with outstanding annual statements that if they remain non-compliant, their registration may be cancelled.
SMSF auditors must lodge any outstanding annual statements to avoid cancellation, and also ensure their contact details are up to date. Lodgements of annual statements and updates to contact details can be completed via the .
ob体育 Commissioner Sean Hughes said, 鈥楽MSF auditors play a fundamental role in promoting confidence and instilling trust in the SMSF sector, so it is crucial that they comply with their regulatory obligations. ob体育 will continue to take action where SMSF auditors do not meet these obligations.鈥�
The SMSF auditors who have been cancelled were all initially cancelled and reinstated between 2016 and 2018. They are:
- Rajab Arabi, of Kingsgrove, New South Wales 鈥� 4 annual statements outstanding;
- Michael Awadalla, of Rockdale, New South Wales 鈥� 3 annual statements outstanding;
- Michael Donlon, of Palm Beach, Queensland 鈥� 3 annual statements outstanding;
- Jonathan Dundovic, of Green Valley, New South Wales 鈥� 4 annual statements outstanding;
- Jeffrey Foden, of Oakleigh, Victoria 鈥� 3 annual statements outstanding;
- Jackie Lao, of Carlton, New South Wales 鈥� 4 annual statements outstanding;
- Kevin Leece, of Werribee, Victoria 鈥� 3 annual statements outstanding;
- Caren Moroney, of Burrum Heads, Queensland 鈥� 6 annual statements outstanding;
- Ronald Targett, of Dee Why, New South Wales 鈥� 3 annual statements outstanding; and
- Antony Vidray, of Waratah, New South Wales 鈥� 3 annual statements outstanding.
Background
From 1 July 2013, the Superannuation Industry (Supervision) Act 1993 (SIS Act) required all auditors of SMSFs to be registered with ob体育. This was to ensure that all SMSF auditors meet at least base standards of competency and expertise.
Annually, SMSF auditors must under s128G of the SIS Act lodge a statement with ob体育 within 30 days of the anniversary of their registration. These statements collect important compliance information.
ob体育 may under s128E of the SIS Act cancel the registration of an SMSF auditor for not complying with s128G of the SIS Act. A cancelled SMSF auditor may reapply for registration in the future.
SMSF auditors may request that ob体育 review a decision it has made against them under the SIS Act. If the decision is confirmed or varied, the SMSF auditor may apply to the Administrative Appeals Tribunal for further review of the decision.
Further information can be found on ob体育's website and in ob体育 Registration of self-managed superannuation fund auditors.
SMSF trustees and members can check whether their auditor is registered by searching ob体育's .