Thursday 17 August 2006 LAWFUEL – Law News Network – The Companies Auditors and Liquidators Disciplinary Board (CALDB) has issued a formal reprimand to Perth auditor, Mr Maurice Lee Anghie, following an application by the Australian Securities and Investments Commission (ASIC).
The CALDB issued the reprimand after finding that Mr Anghie had failed to carry out or perform adequately and properly his duties as an auditor in relation to an audit of the consolidated accounts of China West Holdings Limited (CWH) for the year ended 30 June 2003. In particular, the accounts of CWH were prepared on a consolidated basis in circumstances where the criteria relevant to control within the meaning of AASB 1024 had not been satisfied.
Mr Anghie failed to qualify his audit report, and failed to include in the audit working papers, evidence of his consideration and conclusions in respect of the consolidation issue. The CALDB also ordered Mr Anghie to pay ASIC’s costs of $4,000. Mr Anghie is a partner in the firm, Hall Chadwick, in Perth. For further information contact: Mark Steward Deputy Executive Director, Enforcement Telephone: 03 9280 3467 Mobile: 0412 860 940 Emma Forehan ASIC Media Unit Telephone: 03 9280 3354 Mobile: 0409 702 310