Financial Services Archive

Impact of COVID-19 on Auditing Conditions and Requirements

In an audit environment that is evolving through technology and the impact of external reviews, COVID-19 has created another layer of challenge and complexity that is having a profound...

Why now is the right time to start an in-house Mortgage Division

No doubt you’ve heard of a little something called Covid-19, which has been making an impact of sorts on our and the worlds economies. Not to mention the impact...

Catfishing Exposed – SMSF auditor number fraud

Further SAN mis-use reported to TPB

A further 90 tax practitioners have either deliberately or mistakenly mis-used an SMSF auditor number, with the ATO detecting over a thousand instances of...

Rent relief during Covid 19 crisis

While under normal circumstances, SMSF rentals are required to be at proven market rates, due to the financial effects of the coronavirus pandemic, the ATO...

How every accountant can be a step ahead when your client is selected for an audit relating to the Black Economy or on rental property related expenses

The ATO has been focusing heavily on the Black Economy and on excessive rental property related expenses in 2019 and will continue this into 2020. There are ways you...

12 Top Takeaways: Asia Pacific Report Reveals Changing Financial Consumer Preferences

A new report produced by the research company, Forrester, into the changing preferences of financial services customers in Asia Pacific markets, reveals some valuable pointers for accounting firms...

Audits and Independence – Where to from here?

In Part 1 of this series on auditors and independence, I outlined some of the challenges facing the audit industry with a number of reviews underway both in...

Change for change sake isn’t a smart move

We all know the age old adage – “If it isn’t broken, don’t try and fix it”. This applies to so many things in life but sometimes the unintended...

Overcoming Conflict of Interest Concerns with Audits

Audit firms provide an essential service to capital markets. By building a basis for trust and confidence in financial reporting, auditors help firms manage financial risk, reduce financing costs...

So you want to be an analyst?

ACCA’s recent report on the future of professional accountants identified that ‘expert use of analytics will enable better and close to real time reporting, more predictive analysis and greater...

No Deduction for Non-Compliant Payments

From 1 July 2019, businesses can only claim deductions for payments made to workers if they have complied with applicable PAYG withholding and reporting obligations. This article discusses the...

Claim trends that every accountant will want to know

With the transition into a new financial year these are some claim trends that the Accountancy Insurance Claims team have identified over the last 12 months which may be...

Catfishing Exposed – SMSF Auditor Number Fraud

Mis-use of Auditor Numbers

Over 600 tax practitioners have either deliberately or mistakenly mis-used an SMSF auditor number, with the ATO detecting over a thousand instances of potential fraud.

“Some practitioners...

Crowd Sourced Funding: A Potential Nightmare for Banks

Having to go ‘cap in hand’ to banks for money is quickly becoming a thing of the past for many small and medium sized business owners looking to grow...

new-year-ahead-sign

EOFY reporting under STP – why it is easier

This end of financial year is the first under Single Touch Payroll (STP) for many of your clients. The most significant and time-saving benefit of reporting information via STP...

How Can You Balance Audit Quality and Financial Outcomes?

Audit quality concerns continue to attract headlines around the world despite the ongoing efforts of international review bodies to address issues relating to conflict of interest and lack of...

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