Good planning is the bedrock of a good audit. Every reporting season has its own unique risks and challenges. A prior year’s audit plan can’t simply be rolled-over. Risks change constantly following changes in business and regulatory environments as well as the requirements of financial reporting, auditing and ethical standards.
To help effectively plan for 30 June, auditors should consider what the standard-setters and regulators say about risks and audit-file inspections. This session brings you up to speed with what the AASB, AUASB, ASIC and many other official bodies think. We will cover our insights using audit-file inspections and technical questions.
This session will:
- Describe how your audit-planning needs to change to incorporate ASIC’s financial-reporting and audit-focus areas
- Identify significant audit risks based on financial-reporting and auditing deficiencies identified by ASIC and other regulators
- Regulatory developments that affect NOCLAR responsibilities, and
- 10 issues that will require your specific attention, including group audits, generative artificial intelligence, outsourcing, analytical procedures, governance understanding and assessment, and payroll compliance.
