Auditing body points to government over audit quality reform delay
The national auditing standards body said the Morrison government had prioritised its response to the COVID-19 pandemic over carrying out the recommendations coming out of the audit quality inquiry.
The national auditing standards body said the Morrison government had prioritised its response to the COVID-19 pandemic over carrying out the recommendations coming out of the audit quality inquiry, as the group receives an additional $1 million in funding to help make those reforms.
The government has been sitting on the recommendations of the parliamentary inquiry into audit quality since late 2020. The inquiry, chaired by Liberal Senator James Paterson, heard auditing firms, the corporate regulator and experts agreeing that reform was urgently needed to protect the integrity of both the financial markets and superannuation sector.
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Edmund Tadros leads our coverage of the professional services sector. He is based in our Sydney newsroom. Email Edmund at edmundtadros@afr.com.au
