Has Anything Really Changed? ASIC’s 2025 Audit Review and the State of Audit Quality in Australia
Has Anything Really Changed? ASIC’s 2025 Audit Review and the State of Audit Quality in Australia Has Anything Really Changed? ASIC’s 2025 Audit Review and the State of Audit Quality in Australia As Managing Director of National Audits Group, I’ve witnessed firsthand the evolving landscape of audit quality in Australia. ASIC’s 2025 review is not […]
Celebrating Regional Healthcare Excellence: National Audits Group Sponsors the Murrumbidgee Health Awards 2025
At National Audits Group, we believe strong communities start with strong support systems. That’s why we’re proud to sponsor the Murrumbidgee Health Awards 2025, an event that shines a light on the exceptional healthcare professionals and organisations making a difference across the region. As Gold Sponsors, we are pleased to back the region’s flagship celebration […]
Scalable Audit Support for Growing Accounting Firms
The Growth Dilemma For many accounting firms, audit services present both opportunity and challenge. That is why scalable audit support for accounting firms has become essential to manage growth effectively. SMSF audits in particular represent a significant share of audit work in Australia. A larger client base promises stronger revenue, broader influence, and more complex […]
Why More Accounting Firms are Partnering with Specialist Audit Providers
In today’s evolving professional services landscape, many accounting firms are rethinking how they deliver audits. Instead of maintaining in-house audit teams, which demand continuous investment in training, compliance systems, and technology, firms are increasingly partnering with specialist audit providers. This is not just a logistical choice, it represents a broader shift in the profession, recognising […]
Why Auditor Independence Matters – APES 110 Update Explained
Maintaining auditor independence is not just good practice, it’s essential to maintaining public trust in financial reporting. The updated APES 110 Code Prohibitions for Auditors (effective December 2024) strengthens this principle, clearly outlining what audit and review firms must not do to avoid conflicts of interest. Understanding the Framework At the heart of APES 110 […]
How Communication in Audit Teams Boosts Outcomes
In an audit engagement, communication is everything. Whether it’s between senior auditors and junior staff, between the audit team and the client, or across internal support teams, effective communication shapes the quality of outcomes. A technically skilled team can still fall short if communication breaks down. This article explores the importance of strong communication within […]
Auditor Rotation: Strengthening Independence and Trust in Financial Reporting
Trust is the backbone of effective financial reporting—and auditor rotation is a critical safeguard in preserving that trust and boosting confidence. Businesses rely on audits to demonstrate financial integrity and performance, whether to shareholders, regulators, customers, or staff. But audits only build confidence when they are perceived as genuinely independent. By regularly rotating auditors, […]
The Power of Communication in Audits: Strengthening Partnerships for Success
In accounting and auditing, technical expertise is vital—but clear communication is the foundation of a seamless audit process. Effective coordination between accounting firms and external auditors ensures smooth information flow, aligned expectations, and early issue identification. Without it, audits can face delays, inefficiencies, and misunderstandings that impact both auditors and clients. At National Audits Group, […]
Navigating ISA 240 Fraud Risk Assessment: Key Updates & Best Practices
Introduction Fraud risk assessment has always been a critical aspect of external audits, ensuring financial statements present a true and fair view of an organisation’s financial position. The ISA 240 fraud risk assessment standard, titled The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, provides auditors with guidance on detecting and responding […]
Preparing for Your First Financial Statement Audit
Preparing for Your First Financial Statement Audit Undertaking your first financial statement audit will be a rewarding process for your organisation. With the right auditor and preparation, financial statement audits are a great opportunity to provide stakeholders with assurance, reliability, and trust. This process improves transparency of financial data, helps develop operational efficiencies, identifies potential […]