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About us

The Companies Auditors Disciplinary Board (CADB) is an independent expert disciplinary tribunal established by Commonwealth Statute (Australian Securities and Investments Commission Act 2001 s1(1)(d) and 203). Its primary function is to hear and determine applications to cancel or suspend the registration of registered company auditors (see more below at Our role).

CADB consists of its fourteen Members, appointed on a part time basis by the responsible Minister. The Members consist of:

  • A Chairperson and a Deputy Chairperson, each of whom must be a barrister or solicitor of at least five years standing;
  • Six Accounting Members, each of whom must be a member of a professional accounting body; and
  • Six Business Members, each of whom must be suitable for appointment as a representative of the business community.

Applications to the Board are heard by a panel of members, either three or five, selected by the Chairperson. A panel must be chaired by the Chairperson or Deputy Chairperson and must have an equal number of Accounting and Business Members.

The current Chairperson is Howard Insall SC. For the full list of members and their details see Board Members.

The CADB Registry is managed by the Principal Registrar, Kathy Vaiano and is supported by the Registrar Kimi Al Gadi. Both the Principal Registrar and the Registrar can be contacted by email at [email protected].

Our role

Our primary role is to act as an independent expert disciplinary tribunal to hear applications to cancel or suspend the registration of registered company auditors, or otherwise sanction such auditors, on grounds set out in s1292 of the Corporations Act 2001.

The Corporations Act contains requirements for the registration of company auditors. The Act contains a statutory scheme which is designed to limit such registration to people who possess relevant professional skill and probity.

The scheme requires persons who apply for registration to satisfy ASIC that they possess these characteristics (Corporations Act 2001 s1280).

The Board’s role within the scheme arises where a person who has already become registered as a company auditor is alleged to have failed to perform the role with the necessary skill and probity. In these circumstances, ASIC or APRA may bring an application to the Board seeking the cancellation or suspension of the auditor’s registration, or seeking other sanctions.

The Board may only exercise its powers after providing the auditor with an opportunity to appear at a Hearing before a panel of Board members selected by the Chairperson. Hearings are held in private unless the Respondent requests a hearing in public.

If the Panel is satisfied at the hearing that the auditor has failed to perform the duties of an auditor adequately and properly or is otherwise not a fit and proper person, the Panel may make orders cancelling or suspending the registration of the auditor or may impose other sanctions. The Panel may publicise the decision and make orders in relation to costs.

The Board also has jurisdiction to exercise its powers in relation to a number of administrative failings, for example, a failure by a registered company auditor to lodge an annual statement (Corporations Act 2001 s1292(1)(a)(i)).

The Board has no investigatory role nor does it have any role in instigating applications.

Related information

© Companies Auditors Disciplinary Board