13 January 2023

Key factors to develop and use audit quality indicators Position paper

It is a common objective for all parties in the corporate reporting ecosystem to improve the quality of financial reporting. Delivering consistently high-quality audits is an essential element to achieve this. However, further work is needed to agree on the definition, drivers and indicators of audit quality. 

To support this objective and build on our factsheet (May 2022), this publication: 

  • defines key concepts related to audit quality  
  • presents considerations for developing Audit Quality Indicators (AQIs) 
  • explains what can and cannot be achieved by AQI reporting 

AQIs are not ends themselves but are one important means to increase the audit work’s transparency and to support consistent, high-quality audits. A blend of AQIs can help focus on the areas where improvement is needed. 

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