How to improve audit quality

In December 2020, the Australian Securities & Investments Commission (ASIC) reported on the results from its audit firm inspections for the 12 months to 30 June 2020.

In this podcast episode, you’ll hear from Doug Niven, ASIC’s Chief Accountant, who discusses the key findings from the audit inspection report. You’ll also learn how ASIC is responding to the Parliamentary Joint Committee Inquiry’s recommendations on their Inquiry into the Regulation of Auditing in Australia, and discover the audit quality measures reported by ASIC. Listen now.

Guest: Doug Niven, Chief Accountant, Australian Securities & Investments Commission
Host: Claire Grayston, Policy Adviser – Audit and Assurance, CPA Australia

Further Resources:

Transcript (PDF)
ASIC Audit inspection report: 1 July 2019 to 30 June 2020 (REP 677 December 2020)
ASIC Audit quality measures, indicators and other information: 2019–20 (REP 678 December 2020)
Guide: Improving Audit Quality using Root Cause Analysis
Guide: Improving Audit Quality using an Individual Recognition and Accountability Framework
PJC Final Report on Regulation of Auditing in Australia (PDF Download)
ITB article: Audit in Australia: A way forward 1 Aug 2020



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