IFIAR-Initiative

On 7 November 2024,  IFIAR presented the next steps in its initiative to improve audit quality. The initiative, which began in 2015, measures the frequency of inspection findings over a four-year period and compares them with the targets set by the IFIAR Global Audit Quality Working Group (GAQWG).

The GAQWG calls on the six largest global networks and their member firms to improve audit quality. In 2023, the global rate of «audits of listed public interest entities (PIEs) with one or more findings» was 32%. IFIAR expects this figure to be decreased by at least 25% to 24% over the four-year period from 2024 to 2027. The FAOA is a member of the GAQWG and supports this initiative.