• Register
Return to: Home > News > Standards > ACCA welcomes IAASB proposals on audit quality

ACCA welcomes IAASB proposals on audit quality

By Steffen Müller

The Association of Chartered Certified Accountants (ACCA) has given its approval to proposals on audit quality made by the International Auditing and Assurance Standards Board (IAASB).

In response to IAABS's consultation paper A Framework for Audit Quality, ACCA head of technical John Davies said that "the Framework gives preparers, auditors, shareholders, regulators and others a shared understanding of audit quality."

According to Davies, the framework communicates that not only the auditors, but all stakeholders of the reporting supply chain "have to pull together to maximise audit quality."

"If this message gets across, it will be of great value in improving audit quality," he stated.

ACCA suggested to IAASB that the framework should firmly adopt the shareholder perspective "in judging the importance of factors relevant to audit quality" and generally wants the framework to "make the link to a sustainable environment, economy and society."

"The success of the framework will ultimately be judged by its contribution to the continual improvement of audit quality to meet the needs of society", Davies concluded.

Related links

ACCA
IAASB

Top Content

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more

    FASB: a quest for simpler standards

    FASB chair Russell Golden addressed the IMA 2019 Annual Conference and Expo at the Sheraton San Diego Hotel and Marina, California, on 18 June. IMA immediate former chair-emeritus Alex Eng acted as moderator. Joe Pickard reports.

    read more

    The future of audit, and how to get there

    Two recent reports peer into the future of the audit profession. One analyses what an audit should offer, while the other looks at how the audit process will be carried out. Robin Amlôt takes a closer look at both.

    read more

    EFAA elects new president, focuses on digital future

    EFAA’s new president, Salvador Marin, outlined his key priorities for the next two years at the organisation’s 2019 annual general meeting, while outgoing president Bodo Richardt offered advice. Robin Amlôt reports.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.