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 […]
Internal and External Auditing: Why Are Both Important?
Let’s dive into internal and external auditing. If you’re running a business or are part of a business leadership team, you’ve likely encountered internal and external audits. Perhaps you have even been involved in one or both. But do you fully understand what distinguishes them and why they could both be important to your business? […]
