Quick Summary
The profession of accountancy and auditing throughout the world is regulated and licenses are granted by the Regulator/Sovereign to the auditors to ensure probity in financial statements. The Institute of Chartered Accountants of India (ICAI) is a statutory body set up in 1949 by an Act of Parliamen
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FAQ :
The Centre for Audit Quality aims to develop a framework for audit quality, create an audit quality maturity model, conduct contemporary education and training, and promote audit quality indicators.
The Centre for Audit Quality is established at the ICAI's Centre of Excellence in Jaipur.
Key objectives include developing a systematic audit quality framework, investing in contemporary education and training for auditors, and establishing audit quality indicators.
By improving audit quality and developing a systematic framework, the centre aims to fill expectation gaps and build investor confidence and public trust.
The centre will provide contemporary education and training for prospective accountants and auditors, as well as specialised training programmes for professional accountants.
Yes, the centre will pursue research and innovation in the area of audit to improve audit quality and will also deliberate on the experiences of Audit Committees.
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