Audit quality continues to be under scrutiny, so much so that it is the subject of a Parliamentary inquiry. CFO’s are in a unique position to assess the quality of their auditors. The Financial Reporting Council (FRC) and the Auditing and Assurance Standards Board (AUASB) are conducting a short survey to hear the views of the CFO’s and G100 is assisting with the project.
Andrew Porter, CFO at AFIC and Chair of G100, appealed to all G100 members earlier this month via email:
“I appreciate this survey comes hot on the heels of the study being done by the large accounting firms on the future of the profession with the Group of 100 (G100).
“We believe audit quality is vitally important, and CFOs need to contribute to the debate. Therefore I ask that you support and complete the attached survey, it should not take longer than 15 minutes. The data collected will assist the FRC and AUASB in their work, as well as the G100, as we prepare to appear before the Parliamentary Joint Committee on Corporations and Financial Services examining the ‘Regulation of auditing in Australia’ to represent your views. Thank you for taking the time to consider this”, Mr Porter said.