ASIC media releases are point-in-time statements. Please note the date of issue and use the internal search function on the site to check for other media releases on the same or related matters.

Monday 9 April 2018

18-097MR ASIC disqualifies South Australian SMSF auditor

ASIC has disqualified John Tretola of South Australia from being an approved self-managed superannuation fund (SMSF) auditor for breaching independence requirements and not reporting legislative contraventions.

ASIC found that Mr Tretola had breached the auditor independence requirements of APES 110 Code of Ethics for Professional Accountants in that he audited his own fund and a fund where he was the trustee. Mr Tretola also failed to identify and report contraventions of the Superannuation Industry (Supervision) Act 1993 (the SIS Act).

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 standards and other requirements. ASIC will continue to take action where the conduct of SMSF auditors is inadequate.'

SMSF trustees and members can check whether their auditor is registered, or whether a person has been disqualified, by searching ASIC's SMSF auditor register at


Information about Mr Tretola was referred to ASIC by the Australian Taxation Office (ATO) under section 128P of the SIS Act.

From 1 July 2013, the SIS Act required all auditors of SMSFs to be registered with ASIC. This was to ensure that all SMSF auditors meet the base standards of competency and expertise.

ASIC and the ATO work closely together as co-regulators of SMSF auditors. The ATO monitors SMSF auditor conduct and may refer matters to ASIC for possible action such as disqualification or suspension of their registration.

Media centre

Receive media releases

Subscribe to the email distribution by sending your name, title, organisation, email address and contact phone numbers to

Follow us on Twitter @asicmedia

Last updated: 09/04/2018 02:29