Australia’s corporate regulator has accepted the cancellation of veteran auditor Allan William Donald’s registration after raising concerns he failed to comply with auditor independence requirements under the Corporations Act 2001 and the APES 110 Code of Ethics for Professional Accountants (including Independence Standards).
The concerns arose from Mr Donald’s work as auditor of two related large proprietary companies over a 30‑year period from 1992 to 2022. ASIC said he conducted audit activities while also serving as company secretary of the audited entities, provided prohibited non‑assurance services, and maintained a long association with the clients without adequate assessments of independence threats or safeguards.
ASIC said the matters were identified through a proactive surveillance focused on auditor independence and conflicts of interest. The regulator plans to publish findings from that review shortly and expects to announce further action stemming from the surveillance.
Commissioner Kate O’Rourke said, ‘This outcome is part of our broader surveillance of auditor independence and our commitment to improving the integrity and quality of auditing in Australia.’
Mr Donald told ASIC his independence breaches were inadvertent and he co‑operated with the regulator’s inquiries. By accepting his application for cancellation, ASIC has removed Mr Donald from the register of company auditors.
