IFIAR releases 2023 Report on Annual Survey of Audit Inspection Findings

In March 2024, IFIAR released its twelfth annual survey of inspection findings arising from its member regulators’ individual inspections of audit firms affiliated with the six largest global audit firm networks. This report on IFIAR’s 2023 Survey of Inspection Findings provides an overview of its annual survey findings and highlights results of its 2023 survey.

IFIAR collected information about inspection activities relating to firm-wide systems of quality control, and individual audit engagements. For insight into the effectiveness of audit firms’ systems of quality control in supporting audit quality, IFIAR tracks the percentage of listed public interest entity (PIE) audits inspected with at least one finding. While the survey findings have generally shown improvement since tracking began in 2014, the results of the 2023 survey reveal an increase in the number of listed PIE audits inspected with at least one finding.

The report may be accessed at: https://www.ifiar.org/?wpdmdl=16740