Regulatory Alerts2025-10-24
Auditor of United Global Capital and related entities cancelled by Companies Auditors Disciplinary Board
The Companies Auditors Disciplinary Board cancelled the registration of auditor Ryan William O’Shea for failing to properly audit United Global Capital and related entities. The Board found that O’Shea failed to obtain sufficient evidence regarding $93 million in property investments, $6.5 million in unit trust holdings, and unsecured loans to a director. This decision addresses serious audit failures involving over $92 million in investor funds, predominantly from self-managed superannuation funds.
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