The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has cancelled the New Zealand licence of Sydney based auditor, Mr Scott Bennison, to carry out FMC audits in New Zealand.
The FMA cancelled Mr Bennison's licence because it was satisfied, on reasonable grounds, that he had not complied with multiple conditions of his licence. These failures primarily relate to Mr Bennison's role as engagement quality reviewer on the audit of Greenfern Industries Limited's (in Receivership) group financial statements for the year ended 31 March 2024.
FMA Executive Director Response and Enforcement, Louise Unger, said "the FMA's decision followed the statutory process and reflects the seriousness of the conduct identified. Mr Bennison has the right to appeal the FMA's decision to the District Court under the Auditor Regulation Act 2011."
The FMA would like to thank the Australian Securities and Investments Commission (ASIC) for their cooperation under our Memorandum of Understanding.
