ASIC has disqualified Pierre Jarjoura of New South Wales from being an approved self-managed superannuation fund (SMSF) auditor. ASIC determined that Mr Jarjoura had breached independence and audit requirements and was not a fit and proper person to be an approved SMSF auditor.
ASIC found that Mr Jarjoura had breached:
- Auditor independence requirements of APES 110 Code of Ethics for Professional Accountants, where he audited a fund of which he was a member and the trustee.
- Requirements of Australian auditing standards to adopt appropriate procedures for properly maintaining audit documentation.
ASIC Commissioner John Price said:
SMSF auditors play a fundamental role in promoting confidence in the SMSF sector so it is crucial that they adhere to ethical and professional standards. ASIC will continue to take action where the conduct of SMSF auditors is inadequate.