ASIC accepts three court enforceable undertakings for auditor rotation failures at Hall Chadwick (NSW)

25-223MR

enforceable undertaking2 Oct 2025

Respondent

Drew Townsend

Facts

Following ASIC’s proactive auditor independence surveillance and subsequent investigation, ASIC has accepted three court enforceable undertakings for multiple auditor rotation breaches from registered company auditors connected with Hall Chadwick (NSW).

Outcome

ASIC accepted a court enforceable undertaking from the registered company auditor members of Hall Chadwick (NSW), including Drew Townsend, who admitted acting as lead auditor of listed companies when not eligible under the auditor rotation rules and that the firm's system of quality management was deficient (2025-10-02). See the ASIC source for the full terms.

What does this action mean for your compliance program?Hand this question to the Rules Mate AI advisor — it is already written for you. Cited answers from the live obligation, regulator and enforcement corpus.Ask the AI advisor

Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2025-releases/25-223mr-asic-accepts-three-court-enforceable-undertakings-for-auditor-rotation-failures-at-hall-chadwick-nsw

Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.