The AOB places emphasis on regular and targeted engagements with key stakeholders, which includes auditors, financial statements’ preparer, audit committees and fellow regulators.
These engagements are beneficial to ensure stakeholders’ needs and concerns are translated
into the AOB’s focus areas.
The desired outcome of the AOB’s audit oversight activities is for audit firms to deliver consistent quality audits through continuous capacity building and effective audit quality framework. Capacity-building initiatives for the profession have been an important focus area for the AOB.
The AOB utilises the monies collected from the penalty imposed to facilitate capacity-building initiatives for the accountancy and auditing profession.
