IFIAR published the results of its annual survey of inspection findings

On March 15 IFIAR published the report on its annual survey of inspection findings. The survey is based on information prepared by a membership organization of 54 independent audit regulators as a result of inspections carried out in the audited firms affiliated with the six largest global audit firm networks. 
Georgia participated in the study through the SARAS.

Within the scope of the survey, IFIAR collected information about two categories of inspection activities:  performed on firm-wide systems of quality control and inspections of individual audit engagements. Systems of quality control are an area of focus for many audit regulators and audit firms, as these systems serve as the foundation for executing quality audits. 

IFIAR issues an appeal to the audit firms to identify the areas of the quality control system that need to be improved and take appropriate actions.