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Improving Audit Quality – The role of Directors and Audit Committees

Improving Audit Quality – The role of Directors and Audit Committees

by Steven Watson | May 6, 2022 | Client Management, Practice Management

The quality of financial reports is key to confident and informed markets. The purpose of the independent audit is to provide confidence in the quality of financial reports. In recent times, there has been much discussion about the role of the auditor and their...
Auditing the Auditors – What’s ASIC trying to achieve?

Auditing the Auditors – What’s ASIC trying to achieve?

by Steven Watson | Dec 17, 2021 | Client Management, Workflow Management

In recent years, ASIC has consistently expressed concern about the quality of corporate auditing in Australia, with the Commissioner calling on audit firms to “continue to evaluate the effectiveness of their current initiatives to improve audit quality.” ASIC is...
Audit Client Engagement – What’s Changed?

Audit Client Engagement – What’s Changed?

by Steven Watson | Jul 21, 2021 | Client Management, Practice Management

Managing client relationships effectively can be challenging when the primary focus is on getting the work done efficiently and professionally.  Engagement documents are the best way to ensure both engagement scope and fee for service are clearly understood. They also...
SMSF Auditor Independence Guidelines -What should you do now?

SMSF Auditor Independence Guidelines -What should you do now?

by Steven Watson | Jun 2, 2021 | Business Services, Client Management, Featured Articles, Financial Services

Time is running out for accounting firms to critically review the arrangement they have with the auditors of the SMSF funds for whom they prepare financial accounts. Firms have until 30th June 2021 to make necessary arrangements to engage independent SMSF auditors. If...
Transitioning clients to GPFS – 5 key questions to consider now

Transitioning clients to GPFS – 5 key questions to consider now

by Steven Watson | May 18, 2021 | Business Services, Client Management, Featured Articles, Financial Services

New reporting standards to improve transparency, comparability and consistency of financial statements will apply from the 2022 financial year. From 1st July 2021, certain for-profit private sector entities will no longer be able to prepare Special Purpose Financial...
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