• Key Regulatory Developments Shaping Audit Services in Australia

Discover regulatory updates affecting audit services in Australia, focusing on audit quality, financial reporting, and sustainability practices.

Stay updated on the latest changes impacting Commonwealth Financial Statements and quality management frameworks.

With key developments in the regulatory environment, Australia’s audit landscape is evolving. The 2023-24 Quality Management Framework outlines standards for audit work, ensuring integrity in audit reports and boosting public confidence. Additionally, the Australian Securities & Investments Commission (ASIC) has released its latest findings on financial reporting and audit surveillance, setting priorities for auditors in the coming year.

This resource also covers the AASB and AUASB Corporate Plan 2023-24, which highlights a shift towards sustainable finance with new climate-related financial disclosure standards. These developments reflect the growing emphasis on sustainability, risk management, and transparency in audit practices.

Download the guide to stay informed on regulatory priorities and ensure your audit services remain compliant and forward-thinking

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  • Key Metrics and Insights at a Glance

Quality Management Plan

The 2023-24 framework supports high standards in audit reports, boosting public and parliamentary confidence.

Sustainability Focus

New standards aim to include climate-related financial disclosures, emphasizing sustainable and environmentally conscious reporting.

ASIC Audit Priorities

ASIC’s latest report focuses on non-financial asset values, revenue recognition, and material business risks for the 2023-24 year.

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