14th October, 2015
Audit quality indicators framework to raise quality of financial reporting in Singapore
To further raise the quality of audits on financial statements in Singapore, the Accounting and Corporate Regulatory Authority (ACRA) today introduced an Audit Quality Indicators (AQIs) Disclosure Framework. The framework breaks new ground as it is the first time the Big-Four audit firms have collectively agreed to provide audit committees of listed companies with a set of comparable indicators on the auditors’ ability and commitment to deliver quality audits. This is crucial in helping audit committees better evaluate and select the right auditors.
The press release is available for download here.