Terms of Reference

The following matters were referred to the Parliamentary Joint Committee on Corporations and Financial Services for inquiry and report by 1 March 2020:

Regulation of auditing in Australia with particular reference to:

  1. the relationship between auditing and consulting services and potential conflicts of interests;
  2. other potential conflicts of interests;
  3. the level and effectiveness of competition in audit and related consulting services;
  4. audit quality, including valuations of intangible assets;
  5. matters arising from Australian and international reviews of auditing;
  6. changes in the role of audit and the scope of audit products;
  7. the role and effectiveness of audit in detecting and reporting fraud and misconduct;
  8. the effectiveness and appropriateness of legislation, regulation and licensing;
  9. the extent of regulatory relief provided by the Australian Securities and Investments Commission through instruments and waivers;
  10. the adequacy and performance of regulatory, standards, disciplinary and other bodies;
  11. the effectiveness of enforcement by regulators; and
  12. any related matter.

Committee Secretariat contact:

Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3583
Fax: +61 2 6277 5719