As part of its auditor-surveillance program, the commission has identified using the work of experts and others as another key area where auditors needed to improve. So, let’s look at the issues, our understanding of relevant audit requirements, and the means by which regulatory concerns can best be addressed to improve compliance and minimise regulatory and other sanctions. The session will:
- Identify ASIC’s concerns
- Revisit the key requirements for auditors when using the work of experts, and
- Discuss how auditors may improve their processes.