ASIC is adopting a broader, more intensive supervisory and enforcement approach to audits. In December, the commission issued a report on the results from its audit-firm inspections to 30 June 2019 as well as a supplementary report on audit-quality measures, indicators and other information. This session will:
- Analyse ASIC’s key inspection findings and their effects on the audit practice and conduct of audits
- Describe developments in audit quality, and
- Outline what audit members need to do to improve audit quality.