The New Zealand Financial Markets Authority has cancelled Sydney-based auditor Scott Bennison’s New Zealand licence to conduct financial markets conduct audits after finding, on reasonable grounds, that he failed to comply with multiple licence conditions. The failures primarily concerned his role as engagement quality reviewer for the audit of Greenfern Industries Limited’s group financial statements for the year ended March 31, 2024. Bennison may appeal the decision to the District Court under the Auditor Regulation Act 2011. The action followed cooperation with the Australian Securities and Investments Commission under the authorities’ memorandum of understanding.
New Zealand Financial Markets Authority cancels auditor’s licence over noncompliance with multiple conditions
The New Zealand Financial Markets Authority has cancelled Scott Bennison’s licence to conduct financial markets conduct audits after finding noncompliance with multiple licence conditions. The failures primarily related to his engagement quality review role in the audit of Greenfern Industries Limited’s 2024 group financial statements.