Richard James South FCA of New South Wales 
 
15 June 2006 
On his own admission the Professional Conduct Tribunal found a case established that Mr South was liable to disciplinary action in accordance with By-law 40(a), in that in its investigation into certain transactions of an entity the Independent Commission Against Corruption concluded that there were material deficiencies in the audit of the entity over a number of financial years, as a consequence of which Mr South entered into an Enforceable Undertaking with the Australian Securities and Investments Commission, without any admission of liability by him, to request the cancellation of his registration as a company auditor and not to make any future application for registration as a company auditor. 
 
The decision of the Tribunal was that Mr South be reprimanded and required to pay $450 plus GST towards the costs of the disciplinary action.