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.
The ATO is clamping down on SMSF auditors who fail to comply with their obligation to ensure audit independence.
Clients are demanding more from auditors because they know machine processes are available to provide greater insights, the World Congress of Accountants (WCOA) learned.
Data analytics is allowing auditors to check much larger amounts of information and focus on areas of risk.
Auditors of self-managed superannuation funds (SMSFs) have been in the regulatory spotlight since 2013, when registration became a requirement under the government’s Stronger Super reforms.
Will new technologies create opportunities or just challenges for audit? How will data analytics change the auditor’s role? Should auditors be held liable if they miss fraud? This all adds up to interesting times ahead for auditors.