‘Pcaob Auditing Standards’ are set to be released in 2020
“We need to be prepared to take it as it comes,” he said.
“The government will have to make a decision about that.”
The Pcaob audit standards were announced in March, following months of scrutiny by the Senate.
Senator David Leyonhjelm said the standards were a step towards a future in which Australia could “take auditing to a whole new level”.
“The Pcob audit standard will be the foundation for a future of Australian public confidence in public sector auditing,” he told the ABC.
“This is about the confidence in the system.”
A spokesman for Auditor-General Michael McCormack said the audit standards “set the standard for the future of the Australian public service, ensuring the quality of public services and the performance of public and private actors.”
“Auditing is a cornerstone of public confidence, and the Government’s public confidence pledge to audit public services is a significant step forward,” he added.