Auditing the Auditor: Managing Client Expectations
Auditing the Auditor: Managing Client Expectations Over the past four years as an auditor in public practice, I have developed a deep appreciation for the importance of strong client-auditor relationships. I’ve learned that managing these relationships effectively isn’t just helpful—it’s essential for delivering high-quality audits and ensuring client satisfaction. Challenges in Meeting Client Expectations One […]
Ready for New Australian Sustainability Reporting Standards (ASRS)?
Ready for New Australian Sustainability Reporting Standards (ASRS)? Mandatory reporting of climate-related activities for Australian companies will kick off from next year. The Australian Sustainability Reporting Standards (ASRS) legislation was passed by the Senate in August 2024, with mandatory reporting to start from January 1, 2025. The Standards will affect large and medium-sized organisations, although […]
Understanding Limited Recourse Borrowing Arrangements (LRBAs) for SMSFs
Limited Recourse Borrowing Arrangements (LRBAs) enable Self-Managed Superannuation Funds (SMSFs) to leverage borrowed funds for asset purchases, presenting opportunities for growth while safeguarding the fund’s other assets from potential risks. The complexity of these arrangements necessitates rigorous auditing practices to ensure compliance with regulatory standards. This article explores the fundamentals of LRBAs, the requirements for […]
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 […]