• Greater clarity on ASIC’s priorities in applying the proposed criteria;

  • Formalising a process for liaison with auditors on proposed communication, which we envisage would occur prior to contact with company directors or officers;

  • Expectations on timeliness of communication, versus the timing of the audit inspection program and company reporting cycles;

  • Interaction with continuous disclosure obligations where relevant; and

  • ASIC’s proposed approach to circumstances where a disagreement exists between the regulator and an auditor.

You can read our submission here (128 KB).