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IFIAR releases 2016 Inspection Findings Survey

  • IFIAR - International Forum of Independent Audit Regulators Image

Mar 03, 2017

On March 3, 2017, the International Forum of Independent Audit Regulators (IFIAR) released its annual Survey of Inspection Findings for 2016. The Survey summarizes key inspection results from the audits of listed public interest entities (PIEs), including systemically important financial institutions (SIFIs) and firm-wide systems of quality control submitted by 36 IFIAR members in jurisdictions around the world.

The Survey found a general decline in inspection finding rates. However, the high rates of findings continue to be of concern to IFIAR. There are similarities in the nature and extent of findings compared to the previous year. Overall, the results continue to show a lack of consistency in the execution of high quality audits and point to the continued need to address firm-wide systems of quality control, including in the critical area of auditor independence.

Review the press release and the Survey on the IFIAR's website.

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