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.