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27 June 2024

In May 2024, ASI received an anonymous complaint alleging conflicts of interest in activities by four audit firms operating in China, through provision of simultaneous ASI auditing and consulting services to ASI members. Over four weeks, ASI undertook an investigation into all relevant records on file and sought additional information, including relevant service agreements, from each of the four firms.

The investigation found that conflict of interest situations are being appropriately managed by the firms. Two of the audit firms identified improvement opportunities to make their approach clearer in contracting communications. All ASI Auditors have been reminded of ASI’s documented requirements regarding Conflict of Interest management in the May’s monthly Auditor Update, and in the June Auditor Calibration Call.

Read the published Complaint Summary

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iseal code compliant