Auditor`s Quality Review in Austria
The quality assurance system for auditors in Austria is based upon EU regulation No 537/2014 (Regulation on specific requirements regarding statutory audit of public-interest entities) and comprises an inspection system for auditors of public interest companies and a compulsory quality control for all auditors (based upon the local implementation law “Abschlussprüfer-Aufsichtsgesetz” in short “APAG”).
Based upon the transitional provision under EU regulation No 537/2014 and the Austrian implementation law (APAG) the existing quality assurance certificates remain valid. PKF Österreicher & Partner GmbH & Co KG Wirtschaftsprüfung und Steuerberatung is registered in the public register of qualified public auditors (Register No. 0700025) with a valid certificate until 23.11.2019.
Auditors who conduct statutory audits have to undergo regular quality assurance reviews at least every three years (for auditors carrying out audits of public-interest entities) and every six years for all other auditors.
Peer-Review PKF International
Beside regular internal quality-reviews (monitoring) PKF in Austria is subject to the mandatory international peer-review-program of PKF International. The last inspection report was issued December 6th, 2016 stating:
“PKF Österreicher & Partner GmbH & Co KG Wirtschaftsprüfung und Steuerberatung is a very worthy member of the PKF network, interacting well with other network firms and producing high quality audits with clear, consistent, well-organised and generally high quality audit working papers. The tone at the top comprises a clear focus on a process of continuous improvement of quality.”
Licensed Quality Assurance Auditor
Our managing partner Mag. Günther Prindl is a licensed Quality Assurance Auditor under the Austrian Quality Assurance Law.