Name Not Disclosed | CPA Australia

Member’s name: NAME NOT DISCLOSED
Date of Hearing: 22 June 2011
Division: New South Wales
Tribunal: One Person Tribunal

On 22 June 2011 the One Person Tribunal found a Member breached:

Clause 27(1 )(a) of the former Constitution in that the Member was "guilty ofa breach ofthe Constitution, By-Laws, Code ofProfessional Conduct or Technical Standards" in that the Member breached Section 290 of the Code of Ethics for Professional Accountants (APES 110) in failing to comply with its provisions as regards audit independence in that the Member audited a self managed superannuation fund (SMSF) of which the Member was also a Trustee for the financial year ended 30 June 2006, and
Clause 27(1 )(a) of the former Constitution in that the Member was "guilty ofa breach ofthe Constitution, By-Laws, Code ofProfessional Conduct or Standards" in that the Member breached Section 290 of APES 110 in failing to comply with its provisions as regards audit independence in that the Member audited a SMSF of which the Member was also a Trustee for the financial year ended 30 June 2008.

Penalties and costs

The One Person Tribunal imposed the following penalties and costs:

in respect of both audits, a severe reprimand and
that the Member pay CPA Australia’s costs of $667 within 30 days, a failure to pay to result in forfeiture of membership.

The Tribunal took into account "exceptional circumstances”, including that the Member undertook no other SMSF audits and had both of the above Funds audited for the previous five years by an independent auditor and no contraventions were disclosed. On that basis the Tribunal ordered publication of the outcome but that the Member not be named. However should the Member fail to pay the costs of $667 within the period specified, the Member’s name will be published.