Date posted: 07/06/2022

Australian quality review findings

Annual summary of the most common findings throughout a CA ANZ quality review of Australian accounting practices.

In brief

  • Compare your firm’s findings with benchmark data of the most common findings.
  • Identify areas for improvement and assess the integrity of your firm's quality control.
  • Access tools and resources to ensure ongoing compliance with quality standards.

The Quality Review Program (The Program) is an integral component of Chartered Accountants Australia and New Zealand’s professional compliance framework. The Program is designed to assess whether Australian members who hold a Certificate of Public Practice have implemented appropriate quality control policies and procedures in their practices.

The data from the latest review period has been collated by CA ANZ , so you can self-assess your practice or prepare for an upcoming quality review.
While there are some changes to the most common findings each year, the top two we typically find are a lack of or incomplete Quality Control Manual and Risk Management Framework.

Quality Control

Maintaining a system of Quality Control in compliance with APES 320 Quality Control for Firms and ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, Other Assurance Engagements and Related Services Engagements, is mandatory for all firms regardless of engagement type or practice size.

The Quality Review team, in collaboration with practitioners, has produced two sets of pro-formas to download and tailor to your practice:

Risk Management

Under APES 325 Risk Management for Firms, members who are principals in firms are required to implement, document, and monitor a risk management framework to embed a risk culture, assist in providing quality and ethical services in the public interest, and to meet their business objectives. This includes the development of policies and procedures that extend beyond those developed to address quality relating to engagement risks, as required by APES 320 Quality Control for Firms.

Use the following links to learn more about a risk management framework, and to access useful tools and templates.

Midsize Firms

Sole Practitioners & Small Firms

Common findings

We have also detailed resources applicable to each common finding to assist your practice with ongoing compliance with quality standards.

Top issues for practices providing assurance services in Australia

Quality Review results for the year ended 30 June 2021

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Top issues for practices providing compilation and taxation services in Australia

Quality review results for year ended 30 June 2021

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Top issues for Desktop reviews

Quality Review results for year ended 30 June 2021

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