All posts tagged "audit quality"
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374Australia & NZASIC Publishes Inspection Findings from Six Biggest Audit Firms
Based on the number of negative findings in the files ASIC assessed, EY demonstrated the highest quality audits, followed by BDO and PwC.
November 2, 2022 -
287ChinaHK AFRC Seeking Fast-track Access to Mainland Audit Papers
The AFRC is working closely with China's MOF to explore ways to streamline the process for gaining access to mainland audit documents.
October 25, 2022 -
211Australia & NZASIC Offers Recommendations on Improving Auditor Practices
ASIC conducted a thematic review on root cause analysis practices at the six largest audit firms, ahead of ASQM 1 coming into effect on 15 December 2022.
October 25, 2022 -
403ChinaChina Directs CPAs to Target Financial Fraud in Audits
CPAs and accounting firms are directed to identify and fix weak links in their audit processes, and improve their ability to deal with financial fraud.
October 19, 2022 -
291EnforcementHK Police, FRC Sign MoU on Combatting Commercial Crime
Collaboration is needed to protect the public interest and maintain financial market integrity, said FRC chairman Kelvin Wong.
September 21, 2022 -
352FeatureKorea: FSS Governor Puts Accounting Industry on Notice
The FSS will intensify its supervision of the accounting sector and punish serious irregularities to raise audit quality and industry professionalism.
September 13, 2022 -
324ChinaHK FRC Explores Joint Audit Inspections with Mainland Authorities
Hong Kong's Financial Reporting Council already has 13 cases involving mainland audit work papers, two of which have been concluded.
June 30, 2022 -
632Capital / LiquidityCBIRC Issues Rules to Standardise ECL Processes at Banks
The rules will address differences in how banks have implemented the ECL method, and prevent its use as a "tool" to adjust profits.
May 23, 2022 -
297Hong Kong
Hong Kong FRC Issues Guidance for Audit Committees
The guidelines are intended to help audit committees adopt best practices in selecting auditors that will enhance the quality of corporate reporting.
December 21, 2021 -
433ChinaChina Directs Accounting Firms to Improve Governance, Audit Quality
Accounting firms are asked to conduct their annual self-evaluation and reviews using a new 'evaluation index system', and submit self-assessment reports by 31 May each year.
December 16, 2021
