Are Audit Spin-offs Still on the Cards for Consulting and Accounting Firms?
The co-mingling of audit and non-audit services, especially within prominent accounting firms like the “Big Four,” has stirred the pot of debate globally and in Australia. Remember the shockwaves of the Enron scandal and Arthur Andersen’s downfall in the 2000s? It highlighted potential conflict of interest concerns, pushing the industry to rethink their structures. Since […]
Client-Auditor Collaboration: Best Practices For Success
Audit practices, like many other businesses, thrive on forging robust relationships with clients. A recent review of client relationships identified the following key challenges: The foundation of strong client relationships lies in clear expectations, exceptional work quality, and consistent communication. Most professional firms would say that they deliver good service. Yet, the question remains: why […]
Meet The Auditor: Miyo Cortez
Welcome to our “Meet the Auditor” series, where we introduce you to the auditors who help ensure that our organisation operates in accordance with applicable laws and regulations. In this instalment, we’re excited to introduce you to Miyo, an Audit Manager at National Audits Group, who brings over 9 years of experience in External Auditing. […]
5 Key Steps to Manage Fee Pressure with Audits
External audits are often seen by many businesses as a mandatory legislative requirement rather than a value-added service. However, leading audit firms recognise the audit process can offer more than just an independent review of financial statements and accounting records. Despite this understanding, the challenge of fee pressure looms large, particularly when audits are perceived […]
Meet the Auditor: Danielle Nye
Introduction Meet Danielle Nye, a driven and accomplished professional who has been on a fast-track career journey since 2009. Currently holding an executive leadership role as a Director at National Audits Group, Danielle’s extraordinary experiences have shaped her career and personal growth. Background In 2009, while completing her Higher School Certificate (HSC), Danielle’s ambition led […]
Meet the Auditor: Phil Swaffield
Introduction Phil is an Assurance and Advisory Manager who has been with National Audits Group for the past eight years and has over 20 years of experience working within Local Government. In this case study, we will learn more about Phil, his background, experience and specific areas of expertise. We will look at Phil’s biggest […]
Downsizer Contributions – What SMSF Auditors need to know
More and more older Australians are seeing the benefits of selling the family home in favour of a smaller home or an apartment. To facilitate this, generous financial incentives have been available since 1 July 2018 for those who are ready to downsize. What is a Downsizer contribution? The downsizer contribution, as defined by the […]
Meet The Auditor: Craig Richardson
Introduction Craig Richardson is an Internal Audit and Management Consultant with over 32 years of experience working in the Local Government and Tertiary Education Sectors. In this case study, we will get to know Craig, his background, experience, and areas of expertise. We will explore the unique challenges he faces as an auditor in the […]
Proposed Changes and Implications – International Standards For Internal Audit
The International Professional Practices Framework (IPPF) is a set of professional standards and guidelines that provide a framework for internal auditors to follow in carrying out their work. The IPPF is published by the Institute of Internal Auditors (IIA), and it has been widely adopted by internal auditors around the world. The IIA plays a […]
Why auditors should pay attention to AI
The rise of artificial intelligence (AI) has become a topic of discussion in various fields, including professional practice. Among the professions which are expected to be significantly impacted by AI are the accounting and assurance professions. The launch of Chat GPT in November 2022 has stirred interest and speculation about the present and future impact […]