Contributing to the Global Economy
IFAC Response to IOSCO Consultation Report on Audit Committees
Good Practices for Audit Committees in Supporting Audit Quality
IFAC
Jul 16, 2018 | Comment Letters
8 Pages
English
IFAC strongly supports IOSCO’s emphasis on the role of audit committees in audit quality, and efforts to enhance the coherence and quality of applicable regulation, oversight, and practices internationally. While recognizing many valuable aspects within the proposed good practices document, IFAC recommends being more clear on background and context with respect to the meaning of audit quality, reference to the Audit Quality Framework published by the International Auditing and Assurance Standards Board, clarifying the intended scope of the good practices, and a range of technical and editorial suggestions.
Copyright © 2022 The International Federation of Accountants (IFAC). All rights reserved.
Related Resources
- Audit Fees Survey 2022
- Auditing Accounting Estimates: ISA 540 (Revised) Implementation Tool
- IFAC SMP Advisory Group Response to the IAASB Audits of LCEs Exposure Draft
- IFAC's Vision for High-Quality Assurance of Sustainability Information
- Strategic Plan