Annual Transparency Report for Auditors - Exposure Draft Regulations
The Parliamentary Secretary to the Treasurer, the Hon Bernie Ripoll MP, today released draft Regulations for public comment, which specifies the contents of annual transparency reports for auditors.
The Regulations prescribe the contents of annual transparency reports for audit firms or authorised audit companies, and operate in conjunction with the Corporations Legislation Amendment (Audit Enhancement) Act 2012, which is expected to come into effect shortly.
"These Regulations complement the legislation to further strengthen regulatory oversight of the audit profession and ensure that Australia's audit quality framework is in line with international best practice," said Mr Ripoll.
The draft regulations and explanatory material can be found on the Treasury website. Submissions on the exposure draft close on 29 June 2012.
19 June 2012