The Australian Securities & Investments Commission has written to registered company auditors to remind them of their legal, ethical and professional obligations amid heightened scrutiny of auditor conduct and audit firm behaviour. The letter is framed around protecting trust in the audit profession and confidence in Australia’s financial markets. Auditor misconduct remains an enforcement priority, and where ASIC has sufficient concern it may investigate and pursue action including cancellation or suspension of auditor registration, infringement notices or civil action. Alongside the letter, ASIC said it has started a separate surveillance of the Big 4 audit firms focused on internal complaints received by large audit firms about their audit practices. The update also points to ASIC’s broader audit work, including ongoing surveillance of financial reports and audit files, and reiterates the findings and actions in Report 817 on auditors’ compliance with independence and conflict of interest obligations.
Australian Securities & Investments Commission2026-07-22
Australian Securities & Investments Commission reminds registered auditors of obligations, begins Big 4 complaints surveillance
The Australian Securities & Investments Commission has reminded registered company auditors of their legal, ethical and professional obligations, warning that misconduct remains an enforcement priority. It has also begun a separate surveillance of the Big 4 audit firms focused on internal complaints about audit practices. The update also refers to ASIC’s ongoing audit and financial reporting surveillance and its earlier findings in Report 817.