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Good news for less complex entity audits

Following on from the IAASB discussion paper on the audit of Less Complex Entities (that we have previously discussed), the IAASB recently released some good news – a new single standard is being developed for these entities. The IAASB Glossary defines these as entities which typically possesses qualitative characteristics such as: a. Concentration of ownership […]

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Australian Auditing Plans

Our current Australia specific content includes: AULCEA Special Purpose – Charity: For audits of Smaller Charities (Less Complex Entities), referencing ASAs – for Australian entities preparing financial statements in terms of Australian Charities and Not-for-Profits Commission Act 2012. AULCEA Special Purpose – Company: For audits of Smaller Companies (Less Complex Entities), referencing ASAs – for […]

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Is this document real? Ensuring digital security and authenticity of PDFs

With remote and paperless auditing becoming much more common, a number of threats and opportunities arise. This article considers the use of Adobe DC Pro as both a great tool for authenticating and securing documents for signing, and also how it can be used maliciously to tamper with PDFs. How safe are PDFs? Many auditors […]

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Service Performance Reporting for Larger Charities (pt 1) – preparing reports

I recently participated in a panel discussion on the topic of Preparing Audit-ready Performance Reports. From the questions submitted and the types of participants, it was clear that larger charities are becoming seriously focussed on preparing service information in a way that is meaningful, compliant with the standards, and able to be audited without too […]

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How to access Help and Support

When help or support is needed first use the “help” icon from within Audit Assistant (bottom right of the screen): If browsing for more information go directly to the support hub. This provides information on: The site has been separated into five main categories of which category has its sub-categories. For example, the category Articles has sub-categories for […]

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Changes to Audit Assistant in response to COVID-19

At Audit Assistant we are fully aware of the disruption of COVID-19 on your audit practice and like you doing are best to adjust to working remotely. We are working hard to ensure our service to you is not disrupted by this event. The XRB website has useful information on how to incorporate COVID-19 into […]

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Update to ISA 540 (Accounting Estimates)

Relevant or not? When it comes to auditing estimates and related disclosures it is understandable to think that a new standard may not as relevant to small and medium practices. However, there are so many types of accounting estimates, to name a few: Bad debts Inventory obsolescence Depreciation the fair value of financial assets or […]

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