Auditor Independence - Collective Investment Vehicles and Pension Funds
The XRB is seeking feedback from auditors of managed investment schemes, collective investment schemes and impacted and affected parties to inform a response to the IESBA’s consultation paper on Collective Investment Vehicles and Pension Funds.
Why?
The consultation seeks views on whether revisions to the independence requirements are needed and explores whether relationships with third parties would be appropriately assessed for independence purposes under the current provisions in the Code of Ethics.
Background
The definitions of related party and audit client in the Code of Ethics might not capture certain parties that are:
- responsible for the decision making and operation of an investment scheme, or
- that are able to substantially influence the scheme, or
- that can exert significant influence over the scheme’s financial records.
This consultation is focused on investment schemes as these schemes often have limited employees and the functions, that would be carried out by employees in a typical operating company, are often carried out by other parties in an investment scheme.
The XRB seeks feedback from all interested and affected stakeholders.
Consultation closed on Friday 13 June 2025
Written submissions received
Written submissions were received via our website or email.
| CPA Australia |
| PWC |
| Office of the Auditor-General |
Submission to IESBA
You can see our submission to the IESBA here