The reasons for the resignation of an incumbent auditor must be reported to the:
A) client.
B) ASX.
C) AARF.
D) ASIC.

Question

Quizplus · Accepted Answer

The resignation of an incumbent auditor must be reported to ASIC (Australian Securities and Investments Commission). ASIC is the regulatory body responsible for overseeing the audit industry and ensuring compliance with auditing standards. The auditor must provide ASIC with a written statement outlining the reasons for their resignation within a reasonable timeframe. This allows ASIC to ensure that the audit process is being conducted properly and that any issues or concerns are addressed appropriately. Therefore, choice D is the best option.

The Reasons for the Resignation of an Incumbent Auditor Must