Quality assurance
We continued our program of quality assurance reviews of selected financial statement audits in 2006–07. The objective of our Quality Assurance Review Program is to ensure that we comply with ANAO Auditing Standards in the conduct of our audits. The Program is managed independently by Professional Services Branch. In 2006–07, the quality assurance program for financial statement audits comprised:
- a selection of sixteen 2006–07 audits (both performed in-house and contracted out); and
- a follow-up of results from quality assurance reviews of five 2006–07 audits undertaken while the audits were in progress.
The main areas highlighted by the review that required attention were related to planning and documentation. The results of these reviews are reviewed by the senior executive and action is taken to respond to the results of the review program.