About this paper
This paper was prepared by staff at the Institute of Chartered Accountants Australia, with input from the Audit Quality and Public Reputation Working Group of the Australian Auditing and Accounting Public Policy Committee (APPC) with a shared interest in enhancing audit quality in Australia.
The APPC includes BDO, CPA Australia, Deloitte, EY, Grant Thornton, KPMG, PwC, the Institute of Chartered Accountants Australia and the Institute of Public Accountants.
The ideas in this paper have been shared by selected firms in Australia – BDO, Deloitte, EY, Grant Thornton, KPMG and PwC – based on work they have undertaken over recent years to improve their audit quality control systems. They are being shared to help other firms when considering their own systems and whether any of the ideas would be of relevance or assistance to them as they seek to enhance their audit quality processes.
Practitioners should use professional judgment in determining whether and how to apply any of the suggestions contained in this paper.
Head of Audit Policy
Institute of Chartered Accountants Australia
Audit Quality and Public Reputation Working Group
Australian Auditing and Accounting Public Policy Committee