Thursday 27 April 2023


2:30 pm


1.5 CDP Hours

Session Topic

How to audit AASB 15 Revenue from Contracts with Customers

Somewhat surprisingly, there is no dedicated standard on auditing revenue. The general body of auditing standards is applied. This can mean that some of the specific requirements of determining compliance with AASB 15 and obtaining sufficient appropriate audit evidence have not been adequately addressed.

Recent ASIC audit inspections have found that the audit of revenue was one below-par area. The commission has announced that it will begin informing directors about negative findings in an effort to improve quality.

There is room for improvement.

This session will:

  • Describe the shortcomings that ASIC and others have identified in auditing revenue
  • Briefly review the auditing standards that need consideration, and
  • Outline the specific audit procedures that can be applied to address more effectively the specific requirements of AASB 15 and ASIC’s concerns.
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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.


Chanelle Pienaar

Principal | Audit Assist

Chanelle is an accomplished Chartered Accountant with more than 20 years’ experience as an auditor in a wide variety of Financial Audit and Audit Quality Control projects. Chanelle has abroad range of experience covering Financial Statement Audits, Audit Quality Control Reviews, Trust Account Audits and AASB implementation Advice & Assistance.

Chanelle has strong technical knowledge and enthusiastic training style ensures that all participants, from the graduate to the partner, receive maximum value from each training session.