The Australian Securities and Investments Commission has today approved the first auditing competency standard under s1280A(1) of the Corporations Act 2001.

The competency standard was produced by CPA Australia and The Institute of Chartered Accountants in Australia (ICAA).

Compliance with an approved auditing competency standard is an alternative method for a person to demonstrate that they have the requisite practical experience to be registered as a registered company auditor in Australia.

Interested parties should contact CPA Australia or the ICAA.