The Australian Securities & Investments Commission accepted a court enforceable undertaking from Perth-based registered company auditor David Makowa of DM Advisory Services following significant audit quality findings, under which he will surrender his registration as a company auditor and will never re-apply. Makowa audited the profit and loss statements and balance sheets of Brite Advisors Pty Ltd (Receivers and Managers appointed) (in liquidation), an Australian Financial Services Licensee, for the financial years ended 30 June 2019 to 2022 and provided the required audit opinions. He admitted the FY19 to FY22 audits were not performed adequately and were not conducted in accordance with the Australian Auditing Standards and Standards on Assurance Engagements. The action arose from ASIC’s investigation into Brite Advisors, which remains ongoing. The court enforceable undertaking will be published on ASIC’s court enforceable undertakings register.
Australian Securities & Investments Commission 2025-06-27
Australian Securities & Investments Commission accepts enforceable undertaking as Brite Advisors auditor admits failures and surrenders registration
The Australian Securities & Investments Commission (ASIC) accepted a court enforceable undertaking from David Makowa of DM Advisory Services due to significant audit quality issues. Makowa will surrender his company auditor registration and never re-apply. He admitted to inadequately conducting audits for Brite Advisors Pty Ltd from FY19 to FY22, failing to meet Australian Auditing Standards. This action is part of ASIC's ongoing investigation into Brite Advisors. The undertaking will be recorded on ASIC’s register.