Audit Reform in Australia: Independence and Accountability
Audit reform in Australia has a genuine opportunity to strengthen the way statutory audit works. Treasury’s options paper, Regulation of accounting, auditing and consulting firms in Australia, released on 1 July 2026, puts a wide range of reforms on the table. These include stronger firm-level obligations, governance changes, greater ASIC oversight, tougher penalties, whistleblower protections and […]
Internal Audit Momentum In Local Government
Adopting internal audit best practices is now a core baseline for local government across most Australian states and territories, reflecting an environment of increasingly clear expectations around internal audit, risk management, and governance. As a result, the question for councils and Audit and Risk Committees, including Audit, Risk and Improvement Committees in NSW, is no […]
Audit Proposal Strategy: Selecting A Value-Aligned Audit Partner
Key Takeaways: In professional services, proposals are often viewed as a necessary commercial exercise. A request is received, a capability statement is prepared, pricing is inserted, and the hope is that the proposal stands out strongly enough to secure the engagement. But the most effective audit and assurance proposals are rarely built on templates alone. […]
Big Audit Firms Vs. Independent Specialist Audit Firms: Why The Difference Matters More Than Ever
For many businesses, selecting an audit provider has traditionally been influenced by one major factor: brand recognition. Large audit firms dominate the market. Their names are widely known, their networks are extensive, and their scale often creates an immediate perception of capability and security. For some organisations, particularly large listed entities or multinational groups, that […]
Preparing Clients For Audit
Isn’t it true that with the right preparation and tools, an audit can be smooth, insightful and even strengthen your organisation, rather than being stressful? In today’s fast-changing regulatory environment, audit readiness isn’t just a once-a-year rush; it’s an ongoing practice. For firms aiming to deliver greater value to clients, proactive preparation makes all the […]
Future Proofing Your Practice
In the world of financial services, particularly audit and assurance, succession planning is more than a leadership handover; it is a strategic safeguard. Firms that prepare early for leadership transitions not only protect client relationships and operational continuity but also strengthen their culture, attract top talent and position themselves for long-term success. Here are five […]
Flexibility Of SMSF Rules & Regulations
Generally, borrowing money or maintaining an existing borrowing is prohibited in SMSFs to ensure compliance with the sole purpose test, providing retirement benefits to members or paying death benefits if a member dies before retirement. However, there are limited exceptions to this rule. This article outlines the flexibility provided to trustees, focusing on Section 67 […]
2026 SMSF ATO Audit Review
A Review That Validates Our Excellence The recent ATO review of our SMSF audit services was not only a rigorous test of our systems, but it was also a powerful affirmation of our commitment to quality, governance and continuous improvement. We approached the review with transparency and preparation, and the outcome confirmed that our processes […]
Inside The NDIS Internal Audit: Your Guide To Mandatory Registration 2026
An NDIS internal audit is more than just a regulatory requirement. It is a safeguard for participants and a benchmark for quality, governance and organisational maturity. Through structured reviews of systems, documentation and service delivery, internal audits help providers identify weaknesses before they escalate into compliance breaches or participant harm. In an environment of intensifying […]
SMSF Borrowing Rules: Flexibility and Exceptions for Trustees
Under Australia’s SMSF borrowing rules, trustees are generally prohibited from borrowing money or maintaining an existing borrowing. This restriction exists to ensure compliance with the sole purpose test, which requires self‑managed superannuation funds (SMSFs) to be maintained solely for providing retirement benefits to members or death benefits where a member dies before retirement. However, the […]