(c) Hong Kong Institute of Certified Public Accountants. Contact HKICPA for permission to reproduce this article., Audit and Assurance

The new JSE auditor accreditation model

Under the previous accreditation regime, the Johannesburg Stock Exchange was primarily responsible for assessing the suitability of auditors of listed companies. The responsibility has now largely moved to audit committees. The Johannesburg Stock Exchange (JSE) auditor accreditation model, under its amended Listings Requirements (LR), imposes additional obligations on audit committees in relation to the appointment… Read More The new JSE auditor accreditation model

(c) Institute of Chartered Accountants of Scotland. Contact ICAS for permission to reproduce this article., Audit and Assurance

Ensuring the independence and effectiveness of internal audit

What actions in an internal audit can accountants take to demonstrate independence if their responsibility as the third line of defence becomes blurred with the first or second line? The Chartered Institute of Internal Auditors (CIIA) highlighted this issue in a position paper titled The Three Lines of Defence. As a refresher, this paper also neatly summarises the… Read More Ensuring the independence and effectiveness of internal audit

(c) Institute of Chartered Accountants in England and Wales. Contact ICAEW for permission to reproduce this article., Audit and Assurance

The Future of Audit: Trust

Auditing is a powerful tool in providing investor confidence in financial statements and supporting economic growth. But an expectation gap exists between what audit does and what stakeholders would like to see it do. The Audit and Assurance Faculty argues that with auditing under public scrutiny changes are necessary to enhance trust and confidence in… Read More The Future of Audit: Trust

(c) Institute of Chartered Accountants in England and Wales. Contact ICAEW for permission to reproduce this article., Audit and Assurance, Corporate Finance

The Future of Audit: Corporate reporting and the role of the auditor

An important audit function is, and always has been, providing assurance that corporate reports contain correct and trustworthy information. However the expectation gap between what is being audited and what people believe should be audited is an ongoing issue. We believe there is a demand for enhanced corporate reporting and greater assurance and if we… Read More The Future of Audit: Corporate reporting and the role of the auditor

(c) Institute of Chartered Accountants in England and Wales. Contact ICAEW for permission to reproduce this article., Audit and Assurance

Future professional: the journey

For the past couple of years, the foresight initiatives developed by AuditFutures have sought to rethink important aspects of the accountancy profession in an exponentially changing world. By asking uncomfortable questions and thinking proactively ahead, our action-research work has shown to disrupt the status quo in order to develop progressive ideas in the areas of… Read More Future professional: the journey

(c) Chartered Professional Accountants of Canada. Contact CPA Canada for permission to reproduce this article., Audit and Assurance

Whistle where you work

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