Travel Synopsis
An auditor is legally required to be independent from the entity it audits, and to uphold audit quality, as outlined by the Australian Securities & Investments Commission (ASIC). The legally enforceable requirements for auditor independence are located within the following legislation and standards: Divisions 3, 4 and 5 of Part 2M.4 and s307C of the Corporations Act 2001. APES 110 Code of Ethics for Professional Accountants. Auditing standard ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, and Other Assurance Engagements. Auditing
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