Announcement
Audit Regulatory Report 2024
Audience
Accountants
Accounting entities
News Topic
Accounting standards and sector regulation
15 November 2024
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ACRA has published the Audit Regulatory Report 2024 (PDF, 5.3MB), which provides an overview of our regulatory regimes and inspection programmes formulated to drive the strategic objective of raising audit quality and upholding public confidence in the integrity of financial reporting.
In addition to sharing the key quality control and engagement inspection findings, the report highlights various good practices that will be helpful to the profession in strengthening their systems of quality management and addressing the complexities in the audits of financial statements. ACRA encourages the profession to draw lessons from the inspection findings and leverage on emerging opportunities to deliver a positive impact through effective quality management.
Looking ahead, the demand for sustainability reporting and assurance is expected to increase significantly. This report draws attention to the upcoming developments in the sustainability reporting landscape and, together with other initiatives, can assist profession in kick starting their journey in sustainability reporting and assurance.
Our past issues of the Audit Regulatory Reports are available here.