The Audit Oversight Board issued its latest annual report last week.
Amongst the highlights are:
- The AOB was recognised by the Asian Corporate Governance Association as one of the most effective audit regulator and probably the best communicator.
- Introduced new criteria for registration with the AOB where the minimum number of partner has been increased to 3 and attached to a single firm only
- AOB considered the usage of data analytics in audit of public interest entities
- 14 enforcement actions were taken in 2018 focusing on the outcomes of these measures
- Various engagement with local and international stakeholders in enhancing audit quality
The AOB 2018 annual report can be downloaded here: