On February 10, 2012 Australian Securities and Investment Commission (ASIC) published that the commission has accepted an enforceable undertaking (EU) from the auditor of the failed Astarra Strategic Fund not to act as a registered company auditor for three years. Albury auditor Timothy Frazer of WHK Audit & Risk Assessment audited the 2008 financial report of Alpha Strategic Fund and the 2009 financial report of Astarra Strategic Fund (ASF). ASIC was concerned during these audits Mr Frazer failed to perform adequately and properly the duties of an auditor and failed to ensure each audit was planned and performed with an attitude of professional scepticism.

The original article can be found at Australian Securities and Investment Commission.