Audit Quality
Audit Firm Inspection Quality
IRBA inspection results for private firms contracted to audit public entities on behalf of the AGSA.
Why the quality of contracted audit firms matters to the public
The Auditor-General contracts private firms to audit many public entities, and the assurance those audits provide is only as good as the firms' own quality, which IRBA evaluates through its inspection programme under the Auditing Profession Act. Poor inspection results on a firm auditing public money raise direct questions about the reliability of the opinions it has issued. AuditPro Core surfaces IRBA inspection results for contracted firms so oversight bodies can weigh the credibility of the assurance behind each outcome.
The Numbers
AuditPro Core renders this view from your tenant's live, tamper-evident records. The figures below are illustrative sample data.
Contracted firms
34
Inspections passed
76%
▲ 3%
Referred for action
5
Engagements affected
61
Firm inspection results
Inspection themes
| Deficiency theme | Firms | Severity |
|---|---|---|
| Audit evidence sufficiency | 9 | High |
| Estimates & valuation | 7 | Medium |
| EQCR documentation | 5 | Medium |
| Independence safeguards | 3 | High |
Figures shown are illustrative sample data for demonstration. AuditPro Core renders these views from your own tenant's live, tamper-evident records.
The IRBA inspection regime
IRBA inspects registered audit firms and individual engagements to assess compliance with auditing and ethics standards. Adverse findings indicate weaknesses in how audit work is performed.
Why public-sector relevance is higher
When a firm audits public entities on the AG's behalf, inspection deficiencies cast doubt on opinions that underpin public accountability. The stakes exceed those of a private-client audit.
Firm quality and opinion reliability
A firm with recurring inspection findings may issue opinions that do not withstand scrutiny. Tracking firm quality adds a layer of assurance over the assurance itself.
How AuditPro Core Bridges the Gap
- Firm linkage: each contracted engagement links to the responsible firm and its IRBA inspection record.
- Exception workflow: adverse inspection results on a public-sector firm raise a flag for review.
- Traceability to source: inspection outcomes connect to the entities and opinions the firm signed.
- Continuous monitoring: firm inspection status is tracked over time across the contracted portfolio.
Key Takeaways
- Contracted-firm quality directly affects the reliability of public audit opinions.
- IRBA inspections reveal weaknesses in how audit work is actually performed.
- Adverse findings on a public-sector firm warrant scrutiny of its opinions.
- Tracking firm quality adds assurance over the assurance itself.
See This on Your Own Data
AuditPro Core renders this dashboard from your tenant's live, tamper-evident records — every figure traceable to source.