By David Malamed There are many ways to prevent and detect procurement fraud, but the most effective measure is to establish a whistleblower process. In its spring report to Parliament the office of the Auditor General raised a warning flag about a Crown corporation that handed out almost $1 billion in contracts last year. One… Read More Whistle where you work
Globally, we are at the start of the conversation for extended auditor reporting with revised and new auditor reporting ISAs implemented for accounting periods ending after 15 December 2016. Extended auditor reporting was implemented successfully in the UK in 2013. Since 2013, it is interesting to note how far the UK has come: from the… Read More The Extended Audit report: the start of the conversation
The Financial Conduct Authority (FCA) has recently published their findings following a market study of the asset management industry. Ross Middleton CA explains the implications. Whilst the study had a broad remit, the main emphasis concentrated on performance, charges and the level of competition within the industry, particularly in relation to those firms offering collective… Read More Pressure increases on asset management industry
The Institute’s regulatory and disciplinary function is central to maintaining trust and integrity in who we are and what we do. The regulatory landscape faced by the profession has changed beyond recognition over the last two decades. For Chartered Accountants Ireland, this landscape is made even more complex by the fact that we have regulatory… Read More A changing and challenging landscape
By David Malamed What solutions exist to improve the possibility of recouping losses, which can range from small amounts to some of staggering proportions? “In 2013 recovery auditors returned more than US$3 billion into [Medicare’s] coffers,” US publication Modern Healthcare reported in September 2014, noting that providers that appealed those audits won fewer than one… Read More Road to recovery
By Anne Adrain In the second of a series of three articles on the use of audit data analytics (ADA), I summarise five opportunities that might emerge for the audit profession.