ASIC secures cancellation of registration of Halifax Investment Services’ auditor

The Australian Securities and Investments Commission (ASIC) today announces another development in the saga around Halifax Investment Services Pty Ltd.

Former Halifax Investment Services Pty Ltd auditor Robert James Evett’s company auditor registration has been cancelled by the Companies Auditors Disciplinary Board (CADB) following an application by ASIC.

Mr Evett was the lead auditor in EC Audit Pty Ltd’s (formerly Bentleys NSW Audit Pty Ltd) audits of Halifax’s profit and loss statements and balance sheets for the 2016, 2017 and 2018 financial years.

The CADB found that Mr Evett was not a fit and proper person to remain registered as an auditor and that in acting as the lead auditor on the Halifax audits he failed to adequately perform the duties and functions required of him.

The CADB found that had Mr Evett performed his duties as required, errors in Halifax’s 2017 financial statements would have been identified and Halifax would have been required to cease trading until it could demonstrate that it met the capital requirements of its financial services licence.

Mr Evett, who had been a registered company auditor since March 1995, did not contest the cancellation of his registration by the CADB.

Halifax was placed in administration in November 2018. It entered liquidation in March 2019. ASIC cancelled Halifax’s AFS license in January 2021.

Halifax clients used a number of trading platforms to invest in financial products described broadly as exchange traded financial products and ‘over-the-counter’ financial products.