(19)The ultimate objective of cooperation on audit oversight between Member States’ competent authorities and the IRBA is to reach mutual reliance on each other’s oversight systems and to enhance convergence in audit quality. Such mutual reliance and enhanced convergence would be based on the equivalence of the audit oversight systems of the Union and of South Africa. As a consequence, transfers of audit working papers or other documents held by statutory auditors or audit firms and of inspection or investigation reports should ultimately become the exception.