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Financial Reporting Council's Auditor Disciplinary Processes: Review and Government response

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The Parliamentary Joint Committee on Corporations and Financial Services’ Report on the 2016-17 annual reports of bodies established under the ASIC Act recommended the Government review the adequacy of auditor disciplinary functions.

The Government accepted this recommendation and requested the Financial Reporting Council (FRC) undertake a review of auditor disciplinary functions in November 2018.

The FRC provided their review to Government on 7 March 2019 and the Government has published the review and the Government response.