Over the years, the AOB’s enforcement actions have set the regulatory expectations of auditors and sent a strong signal on the importance of upholding audit quality.

The AOB has always been objective and impartial in carrying out its enforcement function. Registered audit firms are treated equally, regardless of their size or network affiliations. The enforcement actions commensurate with the severity and impact of the findings regardless of the size of the audit firms.

Further, the enforcement actions are not restricted to individual auditors involved in the audit engagements but are also intended to hold the respective audit firm and its leadership accountable for the behaviour of their individual partners and engagement performance.