How should recent regulatory developments and ASIC enforcement activities change the way you approach an AFSL audit?
ASIC scrutiny is extending beyond AFS licensees to the auditors who provide assurance over them.
Recent matters involving Shield and First Guardian have sharpened the focus on audit quality, professional scepticism and the evidence supporting auditor conclusions.
As firms prepare for their 2027 AFSL engagements, this GAAPinar will examine the key regulatory and enforcement developments and consider what they mean for audit planning, risk assessment, evidence and reporting.
We will explore:
- What recent failures and regulatory action reveal about emerging audit risks
- Licence conditions and compliance obligations
- Risk management frameworks, governance and oversight
- Reportable situations and breach reporting
- Outsourcing and third-party arrangements
- Areas where auditors may need to increase challenge, evidence and documentation
