PricewaterhouseCoopers (PwC) is undertaking the assessment and review of the EU for the Commonwealth Bank of Australia-owned group.
"The PwC second report was submitted to ASIC last week and that was to show that we are on track to delivering the implementation plan, which is the agreement that we have with ASIC," Colonial First State executive general manager of advice Marianne Perkovic told InvestorDaily.
"The next [report] that will be put through will be in March next year, so they are about every six months."
Commonwealth FP continued to work through its implementation plan, as well as imbedding the risk management framework into the business, which would be delivered over the course of the next 12 months.
The negligent actions of Commonwealth FP adviser Don Nguyen between 2003 and 2009 sparked the first EU for the advice group late last year, resulting in a seven-year disqualification for Nguyen.
Earlier this year Commonwealth FP adviser Simon Langton was banned, followed by Christopher Baker, Jane Duncan and Anthony Awkar in April.
