Auditing

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


Data analytics is unlocking new assurance opportunities for auditors who can show a deeper understanding and different view of clients’ businesses.

Audit and the machine: how client demand is changing audit and assurance


The auditor of the future will use data analytics to check data of much larger sets of information from a wide variety of agencies.

How data analytics is transforming audit


Conducting a quality SMSF audit demands sufficient time, resources and access to relevant expertise.

Your essential SMSF auditor checklist


INTHEBLACK

6 top issues in audit


SMSF advisers say this change in particular will not lower the cost of audits for super fund trustees because it will not reduce the overall work involved in auditing a SMSF.

The risks of three-year SMSF audits


There is a greater onus on auditors because they are there to check the figures and protect the SMSF’s trustee and members from abuse.

Auditor responsible for SMSF’s losses, NSW Court of Appeal finds


As the ATO continues to refine its data analysis systems, tax audit protection is set to become increasingly useful.

So, you’ve been targeted by the ATO for a tax audit


Due to its inherently illegal nature, fraud is almost always hidden or disguised, making it very difficult to detect.

Should auditors be held liable if they miss fraud?


There are red flags that could point to problems with auditor independence

6 warning signs the ATO uses when monitoring SMSF auditors


Audit trends: When are auditors raising concerns? INFOGRAPHIC


The option to conduct a review instead of an audit, even if allowed under relevant legislation, depends on the entity’s constitution.

Review or audit? Help your clients understand the difference.


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