Auditing

With a weakening economic outlook, Australia needs robust financial markets and effective oversight to guard against corporate failures.

Mind the audit expectation gap


Much of the current concern for independent auditing has been driven by events in the UK after a series of business failures.

Seeing audit quality in Australia in a new light


Roger Simnett FCPA is committed to helping to develop and implement appropriate standards that both reflect and adapt to changing societal needs and norms, and which do not stand in the way of innovative auditing practices. Photo: Anthony Geernaert.

Roger Simnett FCPA: A singular career in auditing and assurance


It is imperative that auditors obtain the input of experts who can assess the impact of both physical and transition climate-related risks.

Accounting for climate risk is now the auditor's business


How technology and data are transforming accounting and audit


Accounting practices should be alert to a growing number of pseudo tax audit protection services being offered that, on the surface, may seem like a cost-effective solution, but underneath effectively involve practices paying for a service with no insurance backing.

Accountants beware of junk insurance for tax audits


Recent court cases are a stark warning to SMSF auditors, after a court found a second auditor responsible for a lion's share of SMSFs losses.

SMSF auditors under renewed scrutiny


Before taking steps to fix audit quality, it needs to be reliably and consistently measured, in a comparable manner.

Audit quality: is it time for a different approach?


Professional scepticism is defined in Australian auditing standards as “an attitude that includes a questioning mind, being alert to conditions which may indicate possible misstatement due to error or fraud, and a critical assessment of audit evidence”.

Why professional scepticism is a crucial weapon in an auditor's armoury


Since SMSF auditor registration commenced in 2013, up to 30 June 2018 ASIC has deregistered, suspended or imposed conditions on 101 SMSF auditors for various breaches.

Auditor independence in the crosshairs


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