CA ANZ has suspended chartered accountant Vjekoslav Fak for five years following his ASIC disqualification as an SMSF auditor in March 2025.
The suspension will remain until ASIC revokes its disqualification order. Fak has also been ordered to pay $9,247 to cover the Professional Conduct Committee's investigation costs.
ASIC disqualified Fak as part of a broader compliance sweep targeting auditors who breached professional obligations. The regulator's action focused on failures in auditing standards, independence requirements, professional development, and professional indemnity insurance. Some auditors were also caught lacking the practical experience required for SMSF work.
Fak became a CA ANZ member in 2013 and obtained his certificate of public practice in 2018. When the accounting body learned of his ASIC disqualification, it launched an investigation through its Professional Conduct Committee.
Between May and July 2025, the PCC sent multiple emails and letters to Fak's registered addresses. He did not respond to any of them.
The PCC proceeded with a hearing in his absence. It determined that ASIC's disqualification constituted a breach of CA ANZ's By-Law 40.9(a)(vii), which covers adverse or unfavourable binding determinations about professional conduct, competence, or integrity.
Notably, the tribunal clarified it only needed to confirm the existence of the adverse determination, not examine the underlying reasons or correctness of ASIC's findings.
"The evidence provided satisfied the Tribunal such a determination was made," the disciplinary documents read.
The case adds to a growing list of ASIC enforcement actions. Between July and December 2025, the regulator disqualified four SMSF auditors, imposed conditions on two others, and cancelled 22 registrations for various breaches. Over 25 SMSF auditors have faced discipline recently.
In a separate matter, ASIC charged permanently disqualified auditor Kristian John Convery in January 2026 for allegedly acting as an auditor for 56 entities and falsifying 47 reports between June 2024 and January 2025. His court date is set for March 2026.
Disqualified auditors can seek revocation through ASIC or appeal to the Administrative Review Tribunal. Two recently disqualified auditors are currently pursuing ART appeals.