Tuesday 14th July 2015
ASIC has been progressively more active in its regular reviews of auditors and audit firms need to be prepared for these reviews and have a strategy in place to learn from the reviews and ensure that they go smoothly. This presentation will examine:
- The basis and objectives of ASIC reviews of auditors
- ASIC hot button issues generally:
- quality assurance: sufficient and appropriate audit evidence
- audit independence – reliance on fees for other services – rotation – other issues
- professional scepticism
- going concern assumptions – are they appropriate and sufficient?
- ASIC Issues for 2015/2016
- Managing the review:
- understanding what ASIC expects
- how to manage the process from the firm’s end
- anticipating information and document requests
- responding to criticisms
- Review outcomes – what you can learn from them
This webinar is suitable for auditors – Australia wide. This is an update webinar on recent developments in this area.
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).
© 2015 Television Education Network Pty Ltd. All rights reserved. The program for this webinar is copyright and may not be reproduced in any form without the prior written consent of the copyright owner.