Sixth Workshop of the International Forum of Independent Audit Regulators

08.03.2012

Representatives of the Commission took part in the Sixth Workshop of the International Forum of Independent Audit Regulators (IFIAR) which was held between 5th and 7th March 2012 in Abu Dhabi, United Arab Emirates. The workshop was organized with the support of the Abu Dhabi Accountability Authority.

 

The presentations were devoted to issues related to the financial crisis, its impact, as well as the reactions of the regulatory bodies in response to that. The discussions in the follow-up sessions covered topics related to audits of group financial statements, engagement performance – quality control review, international cooperation among regulators, the approaches for inspections of bank audits, inspection of the firms’ monitoring system on quality controls policies and procedures, evaluation of firms’ action plans, electronic systems used by regulators as well as selecting files for review and identifying risk areas for review .

 

The participants shared their knowledge and experience when performing oversight activities of statutory auditors.