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IFAC & ICAEW - 2019 Joint Audit Survey

IFAC & ICAEW - 2019 Joint Audit Survey

Please answer the questions based on your understanding of stakeholder views and practice in your jurisdiction. We do not suggest or request performing detailed investigations in preparing answers, but we understand that you may wish to consult with a limited number of knowledgeable stakeholders in your jurisdiction.

The survey should take approximately 5 minutes to complete. Please submit your responses by July 31, 2019.

Thank you in advance; your input on this important and timely topic is very much appreciated.

Respondent Information *This question is required.

First Name

Last Name

Work Title

Company Name

Email Address

Please indicate the jurisdiction for your response *This question is required.

Jurisdiction for your response *This question is required.

What type of companies are covered by your responses to the question above? (Choose all that apply) *This question is required.

All
Public (including listed, publicly traded) companies
Privately-held companies
Specific industries (e.g., Banks) - Please specify Please enter an 'other' value for this selection.
Other - Please specify Please enter an 'other' value for this selection.

Where there is a requirement, how is it applied to companies in your jurisdiction? *This question is required.

Space Cell	Required	Not Required/Exempt	Not Sure
Public (including listed, publicly traded) companies	Public (including listed, publicly traded) companies: Required	Public (including listed, publicly traded) companies: Not Required/Exempt	Public (including listed, publicly traded) companies: Not Sure
Privately-held companies	Privately-held companies: Required	Privately-held companies: Not Required/Exempt	Privately-held companies: Not Sure
Companies in a specific industry	Companies in a specific industry: Required	Companies in a specific industry: Not Required/Exempt	Companies in a specific industry: Not Sure
Companies below a specified size (market capitalization, revenues, net asset value, etc.)	Companies below a specified size (market capitalization, revenues, net asset value, etc.): Required	Companies below a specified size (market capitalization, revenues, net asset value, etc.): Not Required/Exempt	Companies below a specified size (market capitalization, revenues, net asset value, etc.): Not Sure
Companies who use a Big-4 auditor	Companies who use a Big-4 auditor: Required	Companies who use a Big-4 auditor: Not Required/Exempt	Companies who use a Big-4 auditor: Not Sure
Companies who use a non Big-4 auditor	Companies who use a non Big-4 auditor: Required	Companies who use a non Big-4 auditor: Not Required/Exempt	Companies who use a non Big-4 auditor: Not Sure

Where joint audits are voluntarily used, why? (Choose all that apply)

Industry specific practice
Good corporate governance
Other - Please specify Please enter an 'other' value for this selection.

What approximate proportion of companies in your jurisdiction employ joint audits?

Space Cell	Less than 5%	5% to 15%	Over 15% but less than 35%	35% or more	Not Sure
Public (including listed, publicly traded) companies	Public (including listed, publicly traded) companies: Less than 5%	Public (including listed, publicly traded) companies: 5% to 15%	Public (including listed, publicly traded) companies: Over 15% but less than 35%	Public (including listed, publicly traded) companies: 35% or more	Public (including listed, publicly traded) companies: Not Sure
Privately-Held Companies	Privately-Held Companies: Less than 5%	Privately-Held Companies: 5% to 15%	Privately-Held Companies: Over 15% but less than 35%	Privately-Held Companies: 35% or more	Privately-Held Companies: Not Sure

Have joint audits been used in the past?

How long ago were joint audits used?

Why are joint audits no longer employed in your jurisdiction? (Choose all that apply)

No longer a regulatory requirement
Change in market practices
Change in guidance/recommendation for professional accounting or audit organizations
Too costly
Determined not to improve audit quality
Not sure
Other - Please specify Please enter an 'other' value for this selection.

Is the use of joint audits currently under review by local regulators?

Which of the following use of joint audits are currently under review by local regulators? (Choose all that apply)

Yes - being considered for use by all public (including listed, publicly traded) companies
Yes - being considered for use by all privately-held companies
Yes - being considered for use in targeted industries or by select types of companies
Yes - expanding the current use of joint audits to some additional companies in the jurisdiction is being considered
Not sure
Other - Please specify Please enter an 'other' value for this selection.