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Ernst & Young Oceania Assurance Managing Partner Tony Johnson has encouraged readers of the
Australian Securities and Investment’s (ASIC) report on its audit inspection program to
understand its context and the detail behind some of the key findings.
“Positively, the report recognised that an adverse finding on a matter during an ASIC
review does not necessarily mean that there will be material misstatements in the overall
financial report,” Mr Johnson said.
Ernst & Young look forward to working with both ASIC and the broader audit profession
to address areas of concern.
For the complete article, please go to Big4.com