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IAASB consultation paper "A Framework for Audit Quality"



The International Auditing and Assurance Standards Board (IAASB) issued a Consultation Paper "A Framework for Audit Quality" (Consultation Paper) on 15 January 2013. The HKICPA Standard Setting Department issued, on 17 January 2013, a local Invitation to Comment with comments requested by 15 April 2013.


Through the proposed framework for audit quality (Framework), the IAASB aims to raise awareness of the key elements of audit quality, encourage stakeholders to explore ways to improve audit quality, and facilitate greater dialogue between key stakeholders on the topic.


Please click here for the HKICPA Invitation to Comment and the IAASB Consultation Paper.


Matters for Consultation

The IAASB, through the Consultation Paper, is seeking views on whether the framework is clear, comprehensive and useful and also comments in response to the following questions: 


  • Does the Framework cover all of the areas of audit quality that you would expect? If not, what else should be included?
  • Does the Framework reflect the appropriate balance in the responsibility for audit quality between the auditor (engagement team and firm), the entity (management and those charged with governance), and other stakeholders? If not, which areas of the Framework should be revised and how?
  • How do you intend to use the Framework? Are there changes that need to be made to the form or content of the Framework to maximize its value to you?
  • What are your views on the suggested Areas to Explore? Which, if any, should be given priority and by whom? Are there additional Areas to Explore?


Online survey

We would like to hear from you about your views on audit quality. The Institute's Standard Setting Department has developed an online survey for completion by interested commentators.


Click here to access the online survey.

Respond to the HKICPA Invitation to Comment

You are welcomed to provide us with your comment letter on this Consultation Paper in response to the Institute's Invitation to Comment. The comment period ends on 15 April 2013.

Reference material

The topic of audit quality has been widely discussed in various jurisdictions and you are welcomed to refer to the following publications for reference:



Please contact Selene Ho, Associate Director of Standard Setting, by email at for enquiries.