A significant component of the ongoing evolution of the accounting profession is the requirement for stronger communication skills to enhance stakeholder engagement with, and understanding of, important numbers.
The Australian Financial Reporting Framework is undergoing a significant overhaul, and with changes effective from 1 July 2021, affected financial report preparers with 30 June year-ends should begin readying for transition.
When corporate regulators periodically publish their "hit list" of focus areas for surveillance activities around financial reporting practices, one item appears time and time again - the adequacy of impairment testing of goodwill. It is also a frequent cause of friction between those preparing financial statements and those auditing them.
The theme for this year's NAIDOC Week is "heal country!". We ask three Indigenous accountants about the role finance professionals can and should play in healing country.