Thursday 22 November 2018


2:30 pm


1.5 CDP hours

Session Topic

Key issues in auditing financial instruments under AASB 9

AASB 9 Financial Instruments and AASB 7 Financial Instruments: Disclosure were operative from 1 January. Standards require auditors to reassess risks and the nature, timing and extent of audit procedures as well as communications with governance that flow from the new standards.

This session will:

  • Identify the increased audit risks that flow from the introduction of AASBs 9 and 7
  • Describe what should be in your audit-requirements letter to management
  • Describe how the audit risks can be addressed drawing on the requirements of key audit standards
  • Identify typical audit procedures that could be applied to critical elements of AASBs 9 and 7 and documentation requirements, and
  • Discuss how audit reports may be affected.
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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.