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, […]
ASIC’s 2025 Crackdown on Audit Quality and Independence Issues
ASIC’s 2025 Crackdown on Audit Quality and Independence Issues ASIC (Australian Securities and Investments Commission) is stepping up its game in 2025 with a targeted crackdown on audit quality and independence issues across Australia. This new surveillance review, announced by ASIC Commissioner Kate O’Rourke, zeroes in on auditors’ compliance with independence and conflict of interest […]