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19 Feb. 2018

AUASB Submission to the Monitoring Group

Earlier this month, after listening to key stakeholders, the AUASB submitted its response to the Monitoring Group’s Consultation Paper: Strengthening the governance and oversight of the international audit-related standard-setting boards in the public interest.

While the AUASB supports the Monitoring Group’s efforts to improve and enhance the global auditing and assurance standard-setting process, we have concerns about many of the proposals put forward which, in our view, do not represent a proportional response to the issues raised in the consultation paper.

In developing this response we have sought the views of our key stakeholders and board members, as well as drawing upon our experience engaging with the international standard-setting boards and IFAC representatives and staff.