Auditors
The auditing profession plays an important role in maintaining and promoting confidence and integrity in Australia’s capital markets.
Audit regulation activities have developed significantly in Australia since the introduction of enhanced regulatory requirements for auditors in July 2004, the issuing of legally enforceable Auditing standards in July 2006 and amendments enabling greater co-operation with international audit regulators in July 2007.
ASIC is responsible for administering the requirements of the Corporations Act as it relates to auditor independence (Divisions 3, 4 and 5 of Part 2M.4) and audit quality (Division 3 of Part 2M.3). Our audit oversight activities help maintain and raise the standard of conduct in the auditing profession. While these activities have an educational and compliance focus, enforcement action can be taken where significant non-compliance is identified.
Related links
- Auditor applications - Information about auditor registration
- Auditor independence and audit quality - An overview of two core audit concepts
- Audit inspection and surveillance programs - Overviews of the audit inspection and surveillance programs and processes
- Whistleblowing - Background information and your responsibility to deal with a whistleblower's revelation when divulged to the company's auditor or member of the audit team
- Audit and assurance of sustainability reports – Overview of audit and assurance upcoming requirements for sustainability reporting