Consultation Paper - Audit Quality in Australia: A Strategic Review

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Abstract:

On 5 March 2010, the Chairman of the Financial Reporting Council, Mr Jeffrey Lucy AM, released a Treasury consultation paper Audit Quality in Australia: A Strategic Review.

The Treasury paper identifies the key drivers of audit quality in Australia and assesses whether any measures should be taken to address any real or perceived threats to these drivers of audit quality.

Treasury has drawn on the experience, research and studies on audit quality undertaken in Australia, in foreign jurisdictions, including the UK and US, and by international bodies.

Treasury’s paper is designed to facilitate informed debate within Australia with a view to achieving appropriate policy responses to the issues raised in the paper which may provide a blueprint for possible future reforms.

Making a submission

Interested parties are invited to comment on the consultation paper. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Friday, 7 May 2010

Address written submissions to:
Audit Quality Strategic Review
Corporations and Financial Services Division
The Treasury
Langton Crescent
PARKES ACT 2600

Email: auditquality@treasury.gov.au.

For enquiries, please call (02) 6263 3976 or (02) 6263 3144.

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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