The Australian Securities & Investments Commission (ASIC) reported that the Companies Auditors Disciplinary Board (CADB) has cancelled the registration of Sydney company auditor Sam Danieli, director of A D Danieli Audit Pty Ltd, following an ASIC investigation and application to the CADB. The cancellation took effect at the end of day on 16 December 2025, and Mr Danieli has applied to the Administrative Review Tribunal for a stay and review of the decision. Auditing standards for certain engagements, including listed company audits, require an engagement partner to engage with an engagement quality reviewer (EQR) on significant matters and judgements before signing the audit report. The CADB found that across 10 audits of five ASX-listed companies in FY23 and FY24, Mr Danieli had no discussions with the EQR before signing and dating the audit reports and the engagement quality reviews were never completed; it determined the breaches were repeated, unjustified, and serious, and that he knew or ought to have known his obligations. The CADB also ordered publication of its decision and that Mr Danieli pay ASIC’s costs fixed at AUD 73,000. ASIC noted that its 2026 enforcement priorities include a continued focus on auditor misconduct.
Australian Securities & Investments Commission 2025-12-18
Australian Securities & Investments Commission secures CADB cancellation of auditor Sam Danieli for engagement quality review failures across 10 ASX-listed audits
The Australian Securities & Investments Commission (ASIC) announced that the Companies Auditors Disciplinary Board (CADB) cancelled the registration of Sydney auditor Sam Danieli, director of A D Danieli Audit Pty Ltd, due to repeated breaches of auditing standards. The CADB found Mr. Danieli failed to engage with an engagement quality reviewer for 10 audits of five ASX-listed companies in FY23 and FY24. Mr. Danieli has applied for a stay and review of the decision, and the CADB ordered him to pay ASIC’s costs of AUD 73,000.