GAAP Consulting
Date

Thursday 14 November 2024

Time

12:00 pm

Duration

1.5 CPD Hours

Session Topic

Further audit-quality lessons for the audit team

Audit quality is a never-ending quest. This session continues our focus on audit quality based on recent developments – ASIC’s latest audit-inspection report along with those of other regulators, including NZ’s Financial Markets Authority, the themes from GAAP Consulting’s audit-file inspections and other quality developments.

With the objective of enhancing the auditor performance, regulators and accounting bodies regularly report their findings into audit quality. Auditor’s must heed the lessons by incorporating them into quality management and audit planning.

This session will:

  • Analyse inspection findings of regulators and accounting bodies
  • Describe generic findings from audit-file inspections and the role of engagement-quality reviewers by the presenters. Issues for discussions include implementation of ASA 315, substantive analytical procedures, service organisations, NOCLAR and NAS
  • Describe recent enforcement activities of ASIC against auditors
  • Report on the ATO-SMSF auditor case outcomes 2023-24
  • Recap key audit-quality principles, and
  • Explain what actions auditors should take.
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board.

He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.

 

Jessica-Anne Saayman

Director | QA Assist

Jessica is a result driven, energetic Independent Consultant and Specialist in Assurance Consulting Services with more than 26 years’ proven experience in technical, ethics, quality and peer reviews, accounting, listed and unlisted, multinational corporation, public sector audits, including advisory opportunities such as merger and acquisitions and forensics.

Her industry exposure includes healthcare, steel, property, manufacturing, distribution, consumer business, short term insurance, Not-For-Profit and government/public sector; with cumulative experience at partner level (mid-tier and big 4) in external audit for more than a decade.

Jessica is also recognised for her engaging presentations on technical and regulatory matters, having delivered content to national and televised audiences. She brings a unique perspective to the table, drawing from her past roles as Non-Executive Board Member, Treasurer, and Chair off an Audit of an Audit, Risk and Governance Committee.