LATEST UPDATE

IFIAR Releases Report on 2025 Annual Survey of Audit Inspection Findings

The International Forum of Independent Audit Regulators (IFIAR) released a report on the results of its 14th annual survey of inspection findings. These findings arise from its member regulators’ individual inspections of audit firms affiliated with the six largest global audit firm networks (the Global Public Policy Committee networks or GPPC networks). IFIAR collected information about two categories of activities: inspections of firm-wide systems of quality control and inspections of individual audit engagements. IFIAR members from 52 jurisdictions contributed to the 2025 survey.

IFIAR members reported that 35% of audit engagements inspected had at least one finding, compared to 34% in the 2024 survey. The percentage of audits with findings has declined from 47%, since IFIAR began tracking this statistic in 2014, to 26% in 2022, before increasing annually to reach 35% in 2025. The three-year rolling average has also increased from 30% to 33%.

The 2025 Inspection Findings Survey is available on:

https://www.ifiar.org/activities/annual-inspection-findings-survey/