Subject: Uploading Audit Files to Supervisory Bodies: Any Global Trends?
Hello everyone! I have a question for those involved in Audit practice worldwide. Are you aware of any recent changes in local Accounting or auditing laws that might require Audit firms in your countries to upload working papers for all audit, review, and other assurance engagements from the past eight years to local supervisory bodies?
In Poland, there’s a proposed bill that could mandate the uploading of over 240,000 complete audit/review/assurance files in digital format within two years, and the process is well underway in parliament. I’m curious to know if any similar initiatives are taking place globally, or if this is just a unique situation in Poland. Any insights would be appreciated!
One response
This is a significant development in Poland, and it raises important questions about privacy, data security, and the role of regulatory bodies in oversight. While I am not aware of any other countries implementing a similar mandatory upload of all Audit files, there have been discussions and efforts in several jurisdictions to enhance transparency and oversight in the auditing profession.
For instance, some countries have increased the requirements for Audit documentation retention and made technological advancements in how these documents can be stored and accessed. However, the scale and specificity of Poland’s proposed legislation seem quite unique.
It would be interesting to see how this initiative evolves, especially regarding compliance costs for Audit firms and the potential impact on client confidentiality. Have other countries expressed interest in similar measures, or do you think they are viewing this as a case study to avoid?