- Press Releases Related to the Monitoring Group
- Public Communications Related to the Monitoring Group
- Press Contacts
Monitoring Group - Reforms to The Global Audit Standard-Setting Process
(22 February 2018)
Monitoring Group Governance Review
(28 March 2013)
- Monitoring Group Charter
- IFAC Reforms
- Monitoring Group Nominating Committee
Monitoring Group Nominating Committee
Monitoring Group Recommendations
The Monitoring Group published its recommendations, Strengthening the International Audit and Ethics Standard-Setting System, in July 2020. The future structure, governance, process of standard-setting and funding goals of the international audit and ethics standard-setting system are described in the recommendations. These enhancements will strengthen the standard-setting process, which should result in standards that are more responsive to the public interest and in turn lead to improved audit quality.
Under the recommendations, the PIOB will continue to provide independent oversight of the standard-setting process to ensure that international audit, assurance and ethics standards are responsive to the public interest and are developed in accordance with the Public Interest Framework. The PIOB oversight is undertaken throughout the standard-setting development cycle and evaluates how the IAASB and the IESBA considered and balanced input from stakeholders.
The PIOB’s governance responsibilities include the nomination and appointment process for IAASB’s and IESBA’s board members, protecting the IAASB and the IESBA from undue influence, such as commercial, political, and economic influence, in the public interest, and overseeing the ethics and conduct criteria for the PIOB, the IAASB and the IESBA members and staff.