How directors can get the most out of the audit

How much influence can directors and audit committees have over the quality of the external audit? Hear how directors can get the most out of their company’s audit from Jacco Moison at the NZ Financial Markets Authority, as he speaks with Claire Grayston from CPA Australia. The FMA has updated Audit Quality – A Director’s Guide which explains the director’s role in influencing audit quality, focussing on FMC reporting entities.


Highlights:

0:57 Why is a Director’s Guide to Audit quality needed?
2:08 Key drivers of audit quality
4:39 When to go to tender
5:39 Selecting the auditor
7:37 Non-assurance services
9:34 Audit fees
11:17 Independence
13:04 Preparing for the audit
14:13 Managing the audit process
14:59 Evaluating audit quality
17:32 Resources for Directors
19:21 FMA audit quality monitoring findings relevant to directors 

 



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