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Business-Fraud-Investigation

ASIC takes action against a number of approved SMSF auditors

ASIC recently took action against a number of approved SMSF auditors. ASIC felt that the  approved SMSF auditors’ conduct did not meet the required standards and the action taken by ASIC included: disqualifying some auditors; imposing additional conditions on some approved SMSF auditors ; and cancelling the registration of other approved SMSF auditors. For more [read more]

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New decision highlights options for disqualified persons: Barry, in the matter of an application by Barry [2024] FCA 13

In an urgent matter brought to Shariff J as the vacation duty judge this January, the risks to SMSF compliance, where all members of the fund become disqualified persons, were on full display with orders needing to be granted simply to allow the disqualified members to act to wind up the fund. The case, Barry, in [read more]