This session provides fresh insights from ASIC’s forthcoming October 2025 Audit Inspection Report, including auditor independence and conflict-of-interest obligations under the Corporations Act 2001, as well as audits of registrable superannuation entities.
We’ll also explore lessons from CA ANZ, the NZ Financial Markets Authority, and the UK Financial Reporting Council, as well as recurring findings from GAAP Consulting’s audit file reviews.
Participants will gain a clear picture of where audits most often fall short and, more importantly, how to strengthen quality in practice.
In this session, we will:
- Examine key findings from ASIC’s October 2025 Audit Inspection Report
- Highlight recent enforcement actions and their lessons for auditors
- Share recurring themes from audit file reviews and the role of engagement quality reviewers
- Explore how AI is shaping audit quality, with insights from the AUASB’s latest guidance
- Recap key audit quality principles, and
- Identify steps firms can take to strengthen audit quality.
