In his recent submission to a Senate inquiry, Doug Niven, former Chief Accountant at the Australian Securities and Investments Commission (ASIC) for over 25 years, criticized the regulator's oversight of major audit firms.
Niven questioned ASIC's decision to eliminate its annual audit quality report card on major auditors like Deloitte, PwC, KPMG, and EY. "Rightly or wrongly, reduced audit file reviews could be perceived by some to be a response to inappropriate criticism by some auditors of findings and the transparency on those findings," Niven said
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