February 22, 2018
Published: The Accountant
In a statement the monitoring group – a set of international financial institutions and regulatory bodies responsible for the overall governance of the international audit-related standard-setting process and the review of its effectiveness – said that it had received responses from a wide variety of stakeholders, including investors, the regulatory community, financial institutions, auditors, audit firms, professional bodies and academia.
The monitoring group said it was working towards the publication of a feedback statement over the course of next month and that it will engage in a second consultation in the fall of 2018.
Monitoring group chair Gerben Everts said: “We now enter into the next stage of reform after the first phase of the consultation has ended. I am delighted we received so many responses, which shows the international interest in these important reforms.”
More on the proposed reform can be found here: Monitoring Group Consultation: IFAC’s future in the balance