The Australian Securities and Investments Commission (ASIC) has suspended auditor Joseph Santangelo, a partner at Nexia Australia, for two years over his audit work for Greensill Capital from 2018 to 2019. Greensill, a supply chain financing group, collapsed in March 2021.
Greensill's bankruptcy sparked political and financial scandals, as well as significant regulatory scrutiny of its auditors. ASIC's decision followed a review by the Companies Auditors Disciplinary Board (CADB), an independent tribunal that receives and reviews disciplinary applications from ASIC, which found that Santangelo "failed to carry out or perform adequately and properly the duties of an auditor."
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