Impact of COVID-19 on Auditing Conditions and Requirements
Article by Managing Director, Steve Watson, featured by ForAccountants.com.au 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 effect on the way auditors engage with their clients. What have the regulators said? Last month, the […]
Latest News on Audit Inquiry – 8 Key Recommendations
Article by Steve Watson, Managing Director, National Audits Group. On 1 August 2019 the Senate referred an inquiry into the regulation of auditing in Australia to the Parliamentary Joint Committee on Corporations and Financial Services for report by 1 March 2020. On 27 February 2020, the Parliamentary Joint Committee on Corporations and Financial Services tabled […]
Preparing clients for external audits – Keys to success
Article by National Audits Group Managing Director, Steve Watson. Establishing ground rules for client engagement is essential for effective management of audit and assurance projects. There’s no question that technology is allowing audit firms to take control of client relationships. But it all goes back to effective systems and processes for managing the flow of […]
Overcoming Conflict of Interest Concerns with Audits
Article by Managing Director, Steven Watson, as published by For Accountants. 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 and contribute to the effective allocation of capital for economic growth. Despite these benefits, there […]
Audits and Independence – Where to from here?
Article by Managing Director, Steve Watson. 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 Australia and Internationally. Not a week goes by without further news relating to concerns over conflict of interest associated with accounting […]
Celebrating #AuditorProud day 2019
Yesterday the whole team got on board to celebrate #AuditorProud Day. On this day each year, auditors reflect on what it is they love about auditing. We celebrated in style with morning teas and group photos, and everyone had something to say… “Auditing has been my whole working life, it is where I meet most […]
Audit Client Re-Engagement – Mandatory or Optional?
Written by Associate, Danielle Nye, and featured by For Accountants Managing client relationships can be as much an art as a science, especially when open and effective communication is so important to an ongoing relationship. Public Practice Accountants and Auditors have been slow to see the value of annual client re-engagement. When business is based […]
From Accountant to Internal Auditor – Opportunity of Growth
Article by NAG Director, Stephen Prowse, recently featured on the My Accountants website. Internal audit and compliance audit are both very essential functions in any organisation. In recent years, both services have risen in importance, signifying critical control components of an organisation’s structure. However, whilst compliance is increasingly commoditised (and subject to pricing pressure), there […]
7 Key Auditing Trends – The Year in Review
Article by Steve Watson, Managing Director, National Audits Group. Over the past 12 months, we’ve followed changes in the regulatory environment and worked closely with audit clients to ensure that they are prepared for the challenges in relation to governance and reporting activities. It’s clear that with more accounting firms outsourcing auditing services to specialist […]
