Audit Quality
This presentation is the property of its rightful owner.
Sponsored Links
1 / 10

Audit Quality PowerPoint PPT Presentation


  • 123 Views
  • Uploaded on
  • Presentation posted in: General

Audit Quality. Don Thomson. IESBA Board Meeting. New York, USA. October 17-19, 2011. Audit Quality. Topics for Discussion. Draft a udit quality framework A work in progress Environments conducive to audit quality Public consultation in 2012 Ethics coverage in the framework

Download Presentation

Audit Quality

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Audit quality

Audit Quality

Don Thomson

IESBA Board Meeting

New York, USA

October 17-19, 2011


Audit quality

Audit Quality

Topics for Discussion

  • Draft audit quality framework

    • A work in progress

    • Environments conducive to audit quality

    • Public consultation in 2012

  • Ethics coverage in the framework

  • Significance for the Code


Audit quality

The Audit Quality Framework


Audit quality

Key Interactions Influencing Audit Quality

  • Auditors

  • Management

  • Those charged with governance& financial statement users

  • Regulators


Audit quality

Contextual Factors (pages 15-22)

  • Business practices

  • Corporate governance requirements

  • Audit regulation

  • Industry & the general economic environment

  • Educational environment

  • Broader cultural issues


Audit quality

Input Factors (pages 23-26)

  • Culture within an audit firm

  • Knowledge, experience, personal attributes & values of audit partners & staff

    • Compliance with ethical standards, etc

  • Effectiveness of the audit process


Audit quality

Output Factors (pages 37-40)

  • Reliability & usefulness of audit reporting to users of audited financial statements

  • Quality & usefulness of audit communications to those charged with governance

  • Quality & usefulness of audit communications to management

  • Transparency reports


Audit quality

Audit Quality Framework

  • Are there any ethical issues that should be discussed further by the IAASB Task Force?

  • Does the IESBA have any other comments on the draft audit quality framework?

  • Does the draft audit quality framework highlight any matters that should be addressed more comprehensively in the Code?


Audit quality

IESBA Code of Ethics

  • Professional competence & due care

    • Linkage to IESs & ISAs; extent of detail

  • Professional behaviour

  • Cultural differences / challenges

  • Corporate ethics; international ethics

  • Interaction; perspectives; perceptions

  • Other


  • Login