After the release of the FMA’s Audit Quality Monitoring Report for 2015/2016, Senior Advisor at the FMA, Jacco Moison, speaks to Claire Grayston at CPA Australia about the key findings from the Audit Quality Reviews. Jacco explains what auditors can do to address the areas for improvement identified in the report and the part directors can play to support audit quality. Access FMA 2016 Audit Quality Monitoring Report
KPMG were the first of the early adopters of enhanced auditor reporting in Australia. Having now issued enhanced auditor’s reports for a second reporting period, KPMG partners, Carolyn Ralph and Cameron Slapp, spoke to CPA Australia about their experience of implementing the new requirements. This podcast explores why KPMG chose to early adopt, whether they have found the new approach beneficial, how time consuming drafting key audit matters has really been and whether investors have taken notice. Leading into the first mandatory reporting period end, KPMG’s tips on implementation will help other auditors, who are implementing the new requirements for the first time, prepare for the change of approach.
A brief discussion to discuss the regulator’s views on the three new accounting standards (financial instruments, revenue and leasing) that become effective in the near future.
Professor Miklos Vasarhelyi , leading researcher in data analytics and a widely published professor on the topics of continuous audit, data analytics and big data, speaks to CPA Australia on whether data analytics is fundamentally transforming the audit or if it is just a new means of gathering the same evidence as in the past. Prof. Vasarhelyi talks about how data analytics is shaping the future of audit and how auditors need to embrace that future. Miklos is KPMG’s Distinguished Professor of Accounting Information Systems at Rutgers University Business School in Newark & New Brunswick in the US, and Director of Rutgers’ Accounting Research Centre and Continuous Auditing and Reporting Lab. Miklos has been a pioneer of continuous auditing, having developed the original continuous audit application, and is a leading academic in developing and promoting data analytics.
A brief discussion of some of the key features of IFRS 16 and some of the practical issues surrounding its implementation.
A brief discussion of some of the key features of IFRS 15 and what it means for financial statements of entities from various sectors.
A brief discussion of some of the key features of IFRS 9 and what it means for financial statements of entities that are not in the financial services sector.
Join Corey Hale CPA, Corporate Services Manager, Leadership Victoria, and Jenny Lang FCPA, Director, Strategic Treasury and Procurement Consulting, CBA, as they share their experiences on workplace flexibility from both employer and employee perspectives. They’ll provide tips to plan for a more rewarding and fulfilling career and life, whilst underlining some of the challenges and trade-offs.
In this podcast Craig Blair from the ATO sets out the areas which the ATO plan to focus on in their forthcoming SMSF auditor compliance program for 2016/17. Craig explains auditor independence and audit quality issues which have been identified through previous reviews of SMSF auditors and the ATO’s data analytics, which the ATO now intend to target. This podcast is essential listening for SMSF auditors to assist them in determining whether any of the independence or audit quality risk factors identified by the ATO may apply so that they may address those issues proactively.
Professor Emeritus Steven Mintz, Cal Poly State University, USA talks about conflicts, pressures and rationalisations accountants face. He offers insights on what to expect and advice on how to respond to ethical issues.
Join Melville Yates from the Victorian Public Sector and Not-for-profit Committee of CPA Australia as he facilitates a conversation with Fiona Moore, Corporate Learning Solutions Manager at CPA Australia, and Cindy Turner, founder and CEO of Coach Central, on how work is changing for accountants in the public sector. Together they will discuss what employers are looking for in their staff and how members of CPA Australia can remain an integral part of their organisations
ASIC’s Senior Executive Leader, Doug Niven, discusses the ASIC inspection findings for the 18 months to 31 December 2014 with Claire Grayston, Audit & Assurance Policy Adviser at CPA Australia. The podcast highlights the key lesson for auditors as well as directors and audit committees’ role in improving audit quality, how Australian audits compare to other jurisdictions and ASIC’s areas of focus for the next inspection period.
Host – Claire Grayston, Policy Adviser – Audit & Assurance, CPA Australia
Guest – Doug Niven, Senior Executive Leader, Financial Reporting and Audit, ASIC
The most significant changes in auditor reporting in decades apply from 2016. The changes will have greatest impact on listed companies, but all auditor’s reports are effected. What’s behind the changes, what will they mean for directors, audit committees and investors and how are they being received around the world? CPA Australia’s Audit & Assurance Policy Advisor Claire Grayston discusses these issues and more with the architects of the new rules, including International Auditing and Assurance Standards Board Chairman, Prof. Arnold Schilder.
Names of speakers:
Host: Claire Grayston - Policy Advisor – Audit & Assurance, CPA Australia
Prof. Arnold Schilder – International Auditing and Assurance Standards Board (IAASB) Chairman
Chuck Landes - IAASB Deputy Chairman & AICPA Vice President
Merran Kelsall - AUASB Chairman & IAASB Member
Financial Markets Authority Senior Advisor, Jacco Moison, discusses the key findings from the FMA’s 2015 Audit Quality Review, highlights positive trends and areas for future improvement, relevant to audit firms, audit committees and directors, as well as the FMA’s focus for 2016.
Guest: Jacco Moison, Senior Adviser, Markets Oversight, FMA
CPA Australia host: Claire Grayston
Private companies providing benefits to shareholders need to be wary of the wide provisions of Division 7A, says CPA Australia senior tax counsel Mark Morris in conversation with Sue Williamson and Megan Bishop of Ernst & Young.
Ian Raspin of BNR Partners and Mark Morris, formerly CPA Australia's senior tax counsel and now professor of Practice at La Trobe University, recap the pros and cons of lodging a family trust election.
Independent consultant Miles Deayton and Mark Morris, CPA Australia's senior tax counsel, discuss a range of recent ATO audit initiatives.
Roelof Van Der Merwe, National Tax Director Nexia Australia, discusses a recent ruling which confirms that payments of money or property transfer to a spouse will be regarded as a Division 7A deemed dividend.
Thomas Ryan, assistant commissioner of debt at the Australian Taxation Office (ATO), reveals to Mark Morris, CPA Australia's senior tax counsel, how the framework can assist individuals and businesses to manage their tax debts.
Changes in the international business environment have led to new levels of cooperation and information sharing, says Greg Williams, Deputy Commissioner of Taxation at the Australian Taxation Office (ATO).
With some 73,000 individual franchisees generating 13 billion annually, franchising is an attractive business model for many small business owners wishing to expand.
But franchising is not for the unwary as Jason Bertalli, Director BNR Partners explains to Mark Morris, CPA Australia’s senior tax counsel.
Robin Parsons, R&D Tax Partner Asia Pacific, Ernst & Young and Nick Weston, Chief Executive Agenix join Mark Morris, Senior Tax Counsel, CPA Australia to discuss what it takes to turn an innovative idea into a commercially viable product or service.
ASIC recently announced its focus for 30 June 2014 financial reports of listed and public interest entities, as well as findings from its reviews of 31 December 2013 reports.
Thomas Ryan, Assistant Commissioner - Debt , Australian Taxation Office, talks with Mark Morris, Senior Tax Counsel, CPA Australia about the ATO's differentiated approach to debt using external debt collection agencies.