The Parliamentary Joint Committee's recommendations for the future of audit stand to enhance transparency and boost confidence in audit without making fundamental changes to how audits are conducted.
After five years of consultation with regulators, standard-setting groups and other key stakeholders worldwide, the Monitoring Group of international financial regulators has released its way forward for revising the governance structure for setting standards in audit and ethics.
Amid the Parliamentary Joint Committee's ongoing inquiry into the regulation of auditing, there are lessons to be learned from the Brydon Review.
CPA Australia’s External Reporting Centre of Excellence members reflect on the impact of COVID-19 on the way audits are being conducted.
How business leaders communicate during times of crisis can create clarity, build resilience, and catalyse positive change on the way to recovery. INTHEBLACK taps into lessons learned from CPA Australia’s External Reporting Centre of Excellence on how to navigate the next stage.
COVID-19 has created business opportunities for some entities, but for many, particularly those reporting in June, there have been negative impacts, resulting in a likely increase in modified auditors’ reports. Understanding the meaning and relative significance of auditors’ modifications and communication will be critical to users of financial reports.
Remote working and travel restrictions are changing the way audits are conducted. Here's how to utilise technology and get the job done.
What concessions have Australian regulators provided to not-for-profits, including charities, incorporated associations, fundraising licensees and companies limited by guarantee during these challenging times? Here’s a guide to the relief provided in various jurisdictions.
As COVID-19 forces many businesses to dramatically change the way they operate and adopt remote working, there are technology solutions that can help auditors stay on top of their game.
Ethics and public interest have long been the basis of an accountant's work, and ongoing regulation changes globally call for increased accountability, transparency and independence.
To reduce the spread of the coronavirus or COVID-19, governments have placed restrictions on the movement of people to and from certain areas and countries. Here we look at the impact on reporting entities and auditors and how authorities are responding.
There is an enormous opportunity in solving the challenge of how to design simpler standards for the audit of less complex entities.
Auditors are under scrutiny in Australia and the UK, but where does their responsibility lie in preventing fraud and company collapse?
The auditing profession is under pressure due to changing expectations, technological shifts and increasing competition; but could these pressures be the catalyst for audit's reinvention?
As the June reporting season looms, auditors have received further guidance on reporting climate change risk.
New technologies have the potential to take over much of the routine compliance work performed by accountants and auditors. How will that affect the accounting profession?
With the Australian Taxation Office (ATO) increasing its compliance activities to reduce what it has identified as an $8.7 billion gap between what it has collected from individual taxpayers and what it should have collected, it may be tempting to consider any old tax audit insurance product. Here’s what accountants should know about junk insurance.
A legal precedent may be set for SMSF auditors after a court found a second auditor responsible for the lion’s share of an SMSF’s losses.
Is there a better way to tackle audit quality concerns? CPA Australia takes a look at the work underway globally. Here's what the issues are.
A healthy dose of scepticism is a necessity for an effective audit but personal and professional barriers often stand in the way. Here's what you need to know.