Financial report audit resources
Content Summary
Group audits
Are you really ready for ISA 600?
Climate risk disclosures
Guide on climate risks and its impacts on the audit of financial statements
Climate risk webinar – what external auditors need to consider
Four short papers examine the various standards and rules applicable to UK auditors’ duties relating to annual financial accounts, focusing on where those corporate disclosures might reasonably be expected to contain climate risk-related information, and how these might translate to Australian circumstances.
Introduction – Climate change and professional liability risk for auditors: A comparative United Kingdom / Australia analysis
Technology for Auditors
These resources are intended to help you understand the available technologies which are being used successfully by auditors to help you either start or further pursue your journey in embedding technological tools in the audit.
Accounting firms are adopting digital audit to improve efficiency, accuracy, and effectiveness, though it remains a supplementary tool. Professional judgment and scepticism are still crucial, and accounting professionals must stay competitive by enhancing their skills and staying updated on industry developments.
Malaysia Use of Technology by Auditors Survey
Webinars
Regulator audit inspection findings
International
Australia: Australian Securities and Investments Commission (ASIC)
ASIC Audit inspection report: 1 July 2019 to 30 June 2020 (REP 677 December 2020)
ASIC explains the key audit inspection findings for 2019 and how they are responding
ASIC’s audit inspection report found an increase in negative findings and so is commencing new initiatives aimed at improving audit quality
- Audit
Improving audit quality
How directors and audit committees, management and preparers, standard setters, regulators and accounting bodies can all impact audit quality
- Audit
How to improve audit quality
In December 2020, ASIC reported on the results from its audit firm inspections for the 12 months to 30 June 2020
- Audit
Auditor professional scepticism: Impact of trust and distrust
While professional scepticism has long been recognised as an important contributor to audit quality, the exercise of an appropriate level of professional scepticism continues to challenge the audit profession.
Professional scepticism
A lack of professional scepticism in audits has been a recurring theme in ASIC’s audit inspection findings along with other regulators globally, however responding to these concerns can be challenging for audit firms. These resources provide useful information on how auditors can apply professional scepticism to their work.
This publication is a summary of a synthesis on research examining trust and distrust with regard to the exercise of professional scepticism in an audit setting.
Audit quality indicators
Auditor reporting insights
This research, funded by CPA Australia and Chartered Accountants Australia and New Zealand (CA ANZ), explores strategies to attract and retain emerging talent in the accounting and auditing sectors of New Zealand and Australia. It builds upon previous studies by Jackling and Calero (2006) and provides Trans-Tasman evidence on factors influencing students' decisions to pursue accounting and auditing careers. NOTE: CPA Australia and CA ANZ have not independently verified the report's findings from the research team at Massey University and UTS Business School.
This research, funded by CPA Australia and Chartered Accountants Australia and New Zealand (CA ANZ), explores strategies to attract and retain emerging talent in the accounting and auditing sectors of New Zealand and Australia. It builds upon previous studies by Jackling and Calero (2006) and provides Trans-Tasman evidence on factors influencing students' decisions to pursue accounting and auditing careers. NOTE: CPA Australia and CA ANZ have not independently verified the report's findings from the research team at Massey University and UTS Business School.
Professor Gary S. Monroe and Sarowar Hossain from the University of New South Wales, with financial support from CPA Australia and CA ANZ, released a research report sharing its findings and insights on Audit Market Structure, Concentration, and Competition in Australia 2019-2022. The study extends and updates Carson’s 2019 study, Audit Market Structure and Competition in Australia:2012–2018, using more recent data from 2019-2022 of Australian Stock Exchange (ASX) listed companies. It should however be noted that this study uses different metrics and data to the Carson 2019 study and therefore the preliminary findings are not directly comparable to Carson 2019 study. NOTE: CPA Australia (CA ANZ) has not verified the correctness of the information in this report and findings from the research team at UNSW.
The initial findings from a study on Audit Market Structure and Competition in Australia from 2019-2022, by Dr Sarowar Hossain and Professor Gary Monroe at the University of New South Wales, were presented at the Accounting and Finance Association of Australia and New Zealand (AFAANZ) conference in July 2023. This study is part of a research program developed by the AFAANZ Audit Special Interest Group, Chartered Accountants Australia and New Zealand (CA ANZ) and CPA Australia. The study extends and updates Carson’s 2019 study, Audit Market Structure and Competition in Australia:2012–2018, using more recent data from 2019-2022 of Australian Stock Exchange (ASX) listed companies. It should, however, be noted that this study uses different metrics and data to the Carson 2019 study and therefore the preliminary findings are not directly comparable to Carson 2019 study. NOTE: CPA Australia has not verified the correctness of the information contained in these preliminary findings from the research team at UNSW.
FMA and External Reporting Board release joint review of key audit matters reporting
The purpose of this publication is to provide insights to help improve New Zealand auditor reporting
Analyses of auditor’s reports on Australian listed companies with 30 June 2019 and 2020 financial reporting year-ends
Library resources
The following titles are available for members to borrow from the CPA Australia library. You’ll need an online account with us to access these resources.
Discover more
Which companies are on ASIC’s audit radar?
Large proprietary companies are now on ASIC’s audit radar
- Audit
article·Published onFMA to step up audit review frequency
NZ’s FMA is increasing its audit reviews of listed entities
- Audit
article·Published onASIC audit firm inspections: timely heads-up for smaller firms
When it comes to improving audit quality, there are good reasons to act now rather than later
- Audit
article·Published onAuditing Standard ASQM 1: Far more than a checklist
It has a caveat, but audit firms can gain valuable benefits from a new quality standard
- Audit
article·Published onRestructured code of ethics clarifies SMSF audit independence issues
Here are some of the new requirements coming out of changes to the restructured code
- Audit
article·Published onAdvanced Audit and Assurance
This subject examines audit and assurance processes, methodologies and procedures
- Audit