Tuesday 4th August 2015
Duration: approx. 1.5 hours
Group auditing standards have been around for a while but group auditing problems still arise in practice and group audits have been a focus of investigations and reviews by ASIC. This presentation will review the standard and some of the issues which have arisen since its introduction, including:
- What do we mean by group?
- Is there one group or a number of groups?
- Views of ASIC
- Materiality in groups – one group vs a number of groups – smaller group size – more material transactions
- The responsibility of the head entity auditor with groups reviewed and explained
- Reliance on other audits – how far can it go?
This webinar is suitable for auditors – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.
Presented by: Keith Reilly, Financial Reporting Consultant & Lecturer, Macquarie University
Keith Reilly is a financial reporting consultant and covers accounting, auditing and ethical standards, as well as governance and regulatory issues. He has some 40 years’ experience in the financial reporting field, most recently (July 2013) being the National Head of Professional Standards at Grant Thornton Australia, and a member of Grant Thornton’s International Public Policy Group, Independence Working Group, and IFRS Committee.
He was previously the technical director and advisor for the Institute of Chartered Accountants in Australia, and has also worked with the Australian Securities Regulator (ASIC), been an advisor to a major institutional Australian stock broking firm, and a former Research Director and Auditor for two Australian Big 4 audit firms.
Keith consults, writes and lectures extensively on financial reporting issues. Keith is a member of Macquarie University’s Department of Accounting and Corporate Governance’s Advisory Board, a part time lecturer in the Master of Accounting and Corporate Governance program, and in 2013/14 is an Industry Fellow (International Governance and Reporting).