Kammer der Steuerberater und Wirtschaftsprüfer

The Austrian Auditor Oversight Act of 2016 (Abschlussprüfer-Aufsichtsgesetz – APAG) establishes the Audit Oversight Body of Austria (Abschlussprüferaufsichtsbehörde – APAB) as the authority responsible for the quality assurance (QA) review system for statutory auditors and audit firms. The system is operational and covers all mandatory audits.

Within this framework, the Chamber of Public Accountants (Kammer der Steuerberater:innen und Wirtschaftsprüfer:innen – KSW) does not have direct responsibility for the QA review system but supports its implementation through a range of ongoing activities. KSW provides guidance to members on the application of quality management and auditing standards and assists firms in strengthening their internal systems in line with applicable professional requirements.

KSW uses insights from QA review findings to inform its support activities and raises awareness of quality-related issues within the profession. The Chamber publishes implementation guidance and regularly updates its materials to reflect new and revised standards. It also delivers continuing professional development programs and training activities for members, including those related to audit quality and quality management.

Through these established and ongoing processes, KSW maintains a sustained level of engagement in supporting audit quality and contributes to the effective operation of the QA framework in Austria.

Current Status: Sustain

Initial professional development (IPD) and continuing professional development (CPD) requirements for professional accountants in Austria are established through legislation, including the Accountants Act (Bilanzbuchhaltungsgesetz – BiBuG) and the Public Accountants’ Statute of Professional Practice (Wirtschaftstreuhandberufsgesetz – WTBG 2017).

Within this framework, the Chamber of Public Accountants (Kammer der Steuerberater:innen und Wirtschaftsprüfer:innen – KSW) plays a key role in implementing education requirements for tax advisers and auditors. KSW administers professional examinations, assesses practical experience, and monitors compliance with CPD obligations for its members.

To support implementation, KSW provides a range of education and training activities through its professional education programs, including examination preparation and continuing professional development courses. The Chamber also communicates updates on international education developments and promotes awareness of revisions to the International Education Standards (IES).

Based on available information, including disclosures from KSW and the Institute of Austrian Certified Public Accountants (IWP), education requirements in the jurisdiction incorporate the elements of the IES. Through its ongoing activities, KSW maintains established processes to support implementation and continuous development of professional competence.

Current Status: Sustain

International Standards on Auditing (ISA) are applied in Austria within the European Union regulatory framework and the national legal system governing statutory audits.

Within this framework, the Chamber of Public Accountants (Kammer der Steuerberater:innen und Wirtschaftsprüfer:innen – KSW) supports the implementation of ISA through a range of ongoing activities. KSW develops and delivers seminars and training programs on auditing standards and related topics and provides technical resources to its members through publications, communications, and its professional platforms.

KSW also collaborates with the Institute of Austrian Certified Public Accountants (IWP) to support the application of ISA in practice, including through guidance and the dissemination of translated standards and technical materials. Both organizations monitor developments in international auditing standards and contribute to the standard-setting process, including through participation in consultations and the submission of comments on exposure drafts and other pronouncements.

Through these established and ongoing activities, KSW maintains a sustained role in supporting the consistent application and implementation of ISA and contributes to maintaining audit quality in Austria.

Current Status: Sustain

Ethical requirements for professional accountants in Austria are established through a combination of legislation and professional regulation, including the Accountants Act (Bilanzbuchhaltungsgesetz – BiBuG) and the Public Accountants’ Statute of Professional Practice (Wirtschaftstreuhandberufsgesetz – WTBG 2017).

Within this framework, the Chamber of Public Accountants (Kammer der Steuerberater:innen und Wirtschaftsprüfer:innen – KSW) does not have direct responsibility for the adoption of ethical requirements at the jurisdiction level but plays an active role in supporting their implementation. KSW issues professional guidance within its statutory mandate and promotes adherence to ethical requirements among its members.

To support implementation, KSW provides training and continuing professional development activities on ethics and independence requirements and communicates updates and developments related to the International Code of Ethics for Professional Accountants. KSW also contributes to awareness of international developments and encourages alignment with evolving ethical standards.

Based on available information, ethical requirements in the jurisdiction are aligned with the 2018 Handbook of the International Code of Ethics for Professional Accountants (including International Independence Standards). Through its ongoing activities, KSW maintains established processes to support implementation and continuous improvement in ethical practices.

KSW is encouraged to continue promoting alignment with the most recent version of the IESBA Code, including supporting awareness and implementation of updates to the Code as they are issued.

Current Status: Sustain

Public sector accounting in Austria is governed by national legislation, with accrual-based reporting applied at the federal government level and national standards developed by the government with reference to international frameworks.

The Chamber of Public Accountants (Kammer der Steuerberater:innen und Wirtschaftsprüfer:innen – KSW) does not have direct responsibility for the adoption or implementation of public sector accounting standards in the jurisdiction. However, KSW supports awareness and understanding of public sector accounting developments among its members.

KSW promotes awareness of developments related to International Public Sector Accounting Standards (IPSAS) and European Public Sector Accounting Standards (EPSAS), including through participation in discussions and engagement with relevant stakeholders. The Chamber also incorporates IPSAS-related topics into its continuing professional development programs and other training activities.

Through these ongoing activities, KSW maintains established processes to support awareness and understanding of public sector accounting developments, consistent with its role within the jurisdiction.

Current Status: Sustain

Investigation and disciplinary (I&D) requirements for professional accountants in Austria are established through legislation, including the Accountants Act (Bilanzbuchhaltungsgesetz – BiBuG) and the Public Accountants’ Statute of Professional Practice (Wirtschaftstreuhandberufsgesetz – WTBG 2017), and are implemented through a combination of public oversight and professional mechanisms.

Within this framework, the Chamber of Public Accountants (Kammer der Steuerberater:innen und Wirtschaftsprüfer:innen – KSW) operates investigation and disciplinary mechanisms for its members in accordance with its statutory mandate. KSW maintains ongoing processes to review and assess its I&D policies and procedures against international best practices, including the requirements of SMO 6.

KSW’s I&D system is linked to the quality assurance framework in the jurisdiction, enabling disciplinary proceedings to be initiated based on the findings of quality assurance reviews where appropriate. KSW also supports awareness of professional obligations and promotes compliance with ethical and professional standards among its members.

Based on available information, including disclosures from KSW and the Institute of Austrian Certified Public Accountants (IWP), I&D systems in the jurisdiction are operational and incorporate the key elements of SMO 6. Through its ongoing activities, KSW maintains established processes to support effective investigation and discipline and continuous improvement of its framework.

Current Status: Sustain

Financial reporting requirements in Austria are established under the Austrian Commercial Code (Unternehmensgesetzbuch – UGB), with EU-endorsed IFRS Accounting Standards required for the preparation of consolidated financial statements of publicly accountable entities in accordance with Regulation (EC) No. 1606/2002.

The Chamber of Public Accountants (Kammer der Steuerberater:innen und Wirtschaftsprüfer:innen – KSW) does not have direct responsibility for the adoption of IFRS in the jurisdiction. However, KSW supports the implementation of financial reporting standards through ongoing professional activities.

KSW provides updates on new and revised IFRS through its publications and professional communications and organizes continuing professional development programs and training activities for its members. In collaboration with the Institute of Austrian Certified Public Accountants (IWP), KSW also contributes to awareness of developments in financial reporting standards and participates in consultations on proposed changes.

Through these established and ongoing processes, KSW maintains a sustained role in supporting the application and understanding of IFRS among its members.

Current Status: Sustain