The Framework for managing audit quality sustainability

At the Institute we recognise that for audit practitioners in 2010 there are considerable challenges to ensure audit quality is not only maintained, but also improved. We are committed to helping our members to meet these challenges through continued education and training and sharing of peer experiences. All of this helps to contribute to continued high audit standards.

We recognise that it is essential that Australia maintains a healthy and focused audit community.

As part of our commitment to members, I am pleased to present to you a practical working tool for members practicing audit entitled Framework for managing audit quality sustainability.

The framework is a follow-up to our 2009 publication entitled Guide to audit quality – benefit of audit and defines the key components needed to manage a sustainable audit process.

The framework is a first as it is designed to be used by practitioners in large or small practices and publicly defines the components needed to manage a sustainable audit process in a ‘clear, precise and consistent manner.’

I trust that you will find the Framework for managing audit quality sustainability useful in your next audit and look forward to receiving your feedback.

If you have any questions or feedback regarding the framework, please contact me on 02 9290 5598 or alternatively at lee.white@charteredaccountants.com.au.