Kenneth James Thompson CA of Queensland 
 
12 April 2006 
 
On his own admission the Professional Conduct Tribunal found a case established that Mr Thompson was liable to disciplinary action in accordance with By-law 40(a), in that on 9 May 2005 following concerns by the Australian Securities & Investments Commission (ASIC) that he had failed to comply with mandatory auditing and assurance standards and other auditing and professional standards in relation to the audit of the financial statements of a company for the year ended 30 June 2003, he entered into an enforceable undertaking with ASIC that:

• upon ASIC cancelling his registration, he will not re-apply for registration as an auditor for a period of five years;  
  
• on or before 31 July 2005, he will refund the company all professional fees for conducting the audit; and  
  
• on or before 31 July 2005, he will pay ASIC the amount of $5,000 for costs associated with ASIC’s investigation.