Regulatory Alerts2025-10-02
ASIC accepts court enforceable undertakings for auditor rotation breaches at Hall Chadwick NSW
ASIC has accepted court enforceable undertakings from three former Hall Chadwick partners for acting as lead auditors on 14 occasions in violation of mandatory rotation rules. The regulator found the firm's quality management system deficient in ensuring compliance with independence requirements, prompting a mandate for an independent expert review of their controls. The auditors must also submit evidence of compliance to ASIC whenever they seek to extend their eligibility to audit listed companies beyond the standard five-year term.
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