Policy and Oversight
- annual renewal of practising certificates
- annual renewal of CPA Firm, Corporate Practice and PIE Auditor registrations; and
- application for registration as a Registered PIE Auditor.
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Policy and Oversight
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Registration
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Inspection
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Investigations & Enquiries
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Discipline
Policy and Governance
The AFRC conducts research on policy issues relating to the quality of financial reporting and auditing. This includes obtaining and analysing market information, and monitoring local and international developments of professional standards for financial reporting, auditing and ethics. Such information provides broader insights for our risk assessments, which inform our monitoring activities (e.g. inspection and financial statements review programme) and the development of guidelines for the performance of key governance roles, in particular the audit committees who oversee the financial reporting processes.
The AFRC has issued the following guidelines, reports and other publications:
| Publications | Date |
| Guidance Notes on Change of Auditors | September 2023 |
| Guidelines for Effective Audit Committees - Selection, Appointment and Reappointment of Auditors | December 2021 |
The AFRC published the following articles in collaboration with the Investor and Financial Education Council (IFEC), which is a strategic partner of the AFRC, to urge and help retail investors and the public to understand how to read financial statements in conjunction with the related auditor’s report:
| Publications | Date |
| Implications of late auditor resignations | March 2023 |
| What is "Asset Impairment"? | December 2021 |
| Is "Going Concern" a concern for investors? | December 2021 |
| What is "Goodwill"? | December 2021 |
| Auditor's Opinion | September 2021 |
| Key Audit Matters of Financial Statements | September 2021 |
