Date posted: 01/05/2023

Competency requirements for review engagements in Australia

Joint Accounting Bodies revise and reissue review competency requirements

In brief

  • This is the first update since it was originally issued 10 years ago
  • There is no change to the actual competency requirements
  • It is to ensure there is a clear pathway for many SMPs to do their important work in the community

Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia and the Institute of Public Accountants (IPA) (“the Joint Accounting Bodies”) have revised and reissued Competency requirements for assurance practitioners undertaking review engagements in Australia. 

Originally issued 10 years ago in 2013, it sets out the mandatory minimum competency requirements that must be met by all members of CA ANZ, CPA Australia, and the IPA who are not Registered Company Auditors (RCAs) who are seeking to undertake engagements to review historical financial information (review engagements) in Australia, whether or not such review engagements are required by statute.

The revision reflects changes to applicable standards, names of professional accounting bodies and rebranding. It is not intended to change the competency requirements themselves. The document has also been restructured to clarify, simplify, and to improve its readability and understandability. We have done this to ensure there is a clear pathway for many SMPs to do their important work in the community.

These competency requirements apply to assurance practitioners undertaking review engagements in relation to annual reporting periods commencing on or after 1 October 2013. 

Competency requirements

The revised version is published in our Tools and Resources Hub.

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