ob体育 has accepted an enforceable undertaking (EU) from Wangarrata-based auditor, Mr Anthony Hyndman, which permanently prevents him from practising as an auditor.
On 10 October 2013, in accordance with the EU, Mr Hyndman requested that ob体育 cancel his registration as an auditor. Mr Hyndman has agreed to never re-apply for registration or perform any duties or functions of an auditor.
ob体育鈥檚 investigation focused on Mr Hyndman鈥檚 audits for the 2011-12 financial year of three unlisted public companies operating in Victoria. The three companies were Hargraves Secured Investments Limited, Webster Dolilta Finance Limited and Win Securities Limited.
As a result of the investigation, ob体育 formed the view that Mr Hyndman did not conduct the audits of the companies in accordance with the Australian Auditing Standards.
ob体育 Commissioner John Price said: 'Auditors play an important role in maintaining and promoting confidence and integrity in Australia鈥檚 capital markets.
鈥楾hose who do not adhere to the professional standards will be removed from the industry鈥�.
ob体育 is not seeking that the 2011-12 financial year accounts for these companies be restated.