How is enhanced auditor reporting being embraced around the globe?
Changes to auditor reporting introduced by the International Auditing and Assurance Standards Board commence in December 2016. Jim Sylph, co-chair of the IAASB’s auditor reporting implementation working group, and Merran Kelsall, AUASB Chairman, explain the uptake around the world and the experiences of countries which have already implemented the changes and firms which have early adopted.
Early adopters' tips on implementing enhanced auditor reporting
KPMG were the first of the early adopters of enhanced auditor reporting in Australia. Having now issued enhanced auditor’s reports for a second reporting period, KPMG partners, Carolyn Ralph and Cameron Slapp, spoke to CPA Australia about their experience of implementing the new requirements. This podcast explores why KPMG chose to early adopt, whether they have found the new approach beneficial, how time consuming drafting key audit matters has really been and whether investors have taken notice. Leading into the first mandatory reporting period end, KPMG’s tips on implementation will help other auditors, who are implementing the new requirements for the first time, prepare for the change of approach.
Are you prepared for enhanced auditor reporting?
The most significant changes in auditor reporting in decades apply from 2016. The changes will have greatest impact on listed companies, but all auditor’s reports are effected. What’s behind the changes, what will they mean for directors, audit committees and investors and how are they being received around the world? CPA Australia’s Audit & Assurance Policy Advisor Claire Grayston discusses these issues and more with the architects of the new rules, including International Auditing and Assurance Standards Board Chairman, Prof. Arnold Schilder.