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National Audits Group Hosts GAAP Training

On June 19 National Audits Group held its 6th Annual Wagga Wagga Financial Reporting and Audit Training Day. Our Junior Auditor, Kate Grimson, attended this event and has provided an overview of her experience.

“The day was broken up into two sessions. The first was presented by Carmen Ridley (member of the AASB) and focussed on financial statements and upcoming changes, such as the new Revenue standard (AASB 15) & Income for Not-For-Profit entities (AASB 1058) which will affect most of our client base.

“Justin Reid (member of the AUASB) presented the second session which covered the auditing of intangible assets (goodwill), impairment and a risk-based audit approach.

“The knowledge I gained from the day will contribute to my growth as an auditor and allow me to provide this information to my clients so they are informed about the changes, as well as how to complete the audit efficiently by focusing on the key risk areas of their business.

“On behalf of National Audits Group, I would like to thank Carmen and Justin for their time and for sharing their knowledge. I would also like to thank all attendees who helped make the event a success once again.”

– Kate Grimson, National Audits Group.

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