Quality review: Past, present and future

The Institute’s quality review program continues to evolve. It commenced as a pilot in 1995 and today the program reviews more than 400 practices annually. 2010 marks an important milestone for the program with the publication of a new thought leadership paper, Quality Review: past, present and future, which examines the trends of quality review, both here in Australia and internationally. The paper details the major stakeholders in quality review and encourages thought leadership debate on the key issues, actions and directions of quality review and the Institute’s program into the future.

Through the continuous improvement process of its program, the Institute is looking to:

• Develop an innovative approach to quality review that will ‘look and feel different’ to current review approaches by professional accounting bodies and regulators
  
• Minimise duplication of quality review work already being undertaken and where reliance can be placed on the work
  
• Add immediate value to the firm being reviewed
  
• Add value to all members by using the results and issues arising from the program to influence policy and reforms, including education.

Article last updated 4 November 2010