Reprimands issued for remuneration reporting deficiencies

ARITA’s Professional Conduct Committee (PCC) has considered the remuneration issues raised in Lock, in the matter of Cedenco JV Australia Pty Ltd (in liq) (No 2) [2019] FCA 93 and the subsequent decision in Lock, in the matter of Cedenco JV Australia Pty Ltd (in liq) (No 3) [2019] FCA 879.

In addition to the specific issues raised in the cases, including the repayment of a significant quantum of remuneration, the PCC has determined that the extent of the legacy issues regarding deficient remuneration approval warrants formal reprimands against Mr Ian Lock and Mr John Sheahan.

ARITA continues to ensure its members uphold the highest levels of integrity in accordance with the ARITA Code of Professional Practice.