The Australian Securities & Investments Commission took administrative action on the registration of 28 approved self-managed superannuation fund auditors during the second half of FY25, lifting its FY25 total to 48 actions. The decisions addressed breaches of professional obligations, including failures to maintain independence, non-compliance with auditing and assurance standards and continuing professional development requirements, failures to lodge annual statements, and concerns about whether an auditor remained fit and proper. Between 1 January 2025 and 30 June 2025, ASIC disqualified Jean-Marcel Majman, Allan Tan and Kennedy Weldemariam, imposed additional registration conditions on 12 auditors, and cancelled the registration of 13 auditors for failing to comply with annual statement lodgement obligations. Additional conditions were imposed on Mark Baghdassarian, Shane Brewer, Joseph Choueifaty, Robert Goodwin, Wei He, Owen Houston, Justin Ko, Andrew McConaghy, Dinesh Nanayakkara, Jignesh Raj, Anthony Reynolds and Angelo Russo, with the specific conditions available via ASIC’s professional registers. Across FY25 (1 July 2024 to 30 June 2025), ASIC’s 48 registration decisions resulted in seven disqualifications, three suspensions, 14 sets of additional conditions and 24 cancellations. Weldemariam sought reconsideration of his disqualification and ASIC confirmed the decision; auditors can seek internal reconsideration and, if confirmed or varied, apply to the Administrative Review Tribunal for review.
Australian Securities & Investments Commission 2025-08-12
Australian Securities & Investments Commission takes registration action against 28 more SMSF auditors in FY25
In the second half of FY25, the Australian Securities & Investments Commission (ASIC) took action against 28 self-managed superannuation fund auditors, totaling 48 actions for the year. These addressed breaches in independence, auditing standards, and statement lodgement. From January to June 2025, ASIC disqualified three auditors, imposed conditions on 12, and cancelled 13 registrations. Overall, FY25 saw seven disqualifications, three suspensions, 14 conditions, and 24 cancellations. Auditors can appeal to the Administrative Review Tribunal.