Audit regulation
Audit regulation is the system of legal, professional and oversight requirements governing auditors and audit engagements. It can include eligibility, standards, inspection, disciplinary procedures and sanctions. Institutions and enforcement powers depend on the jurisdiction and the type of entity audited.
Worked example
A regulator inspects an audit firm’s work and may take disciplinary action under its applicable powers if requirements are breached.
Common mistake
Do not assume a regulator or enforcement mechanism in one country automatically applies to all international audits.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AA | Direct | September 2026–June 2027 |