The New Zealand licence of Sydney-based auditor, Mr Sam Danieli, to carry out FMC audits in New Zealand has been cancelled by the FMA.
Danieli’s licence was issued under the Auditor Regulation Act 2011 which allows recognition of Australian based auditors under the Trans-Tasman Mutual Recognition Act 1997.
The decisions stem from the audit of former FMC reporting entity Alliant Perpetual’s financial statements for the year ended 31 January 2022. Danieli conducted the audit.
The FMA made orders cancelling Danieli’s licence for multiple failures relating to the audit.
The FMA has also ordered that Danieli may not reapply for an audit licence for FMC audits in New Zealand for three years.