Insights

How economic conditions impact audit judgement

Economic conditions have a direct and significant impact on audit judgement because they influence how businesses operate, manage cash, and make critical financial assumptions. For auditors in Australia, shifting economic conditions mean greater scrutiny, deeper analysis, and increased reliance on professional judgement. When uncertainty rises, audit judgement becomes more complex, particularly in areas involving forecasts, valuations, and risk assessment.

Kaitlynn Brady

Partner

Melbourne

Insights

How businesses can get more strategic value out of their audit process

For many business owners, the audit process can feel daunting, at times even overwhelming. It is often viewed as a necessary compliance exercise: something to get through, rather than something to lean into. But in my experience as an auditor, that perspective is where the opportunity is missed.

An audit, when approached the right way, can be far more than a regulatory requirement. It can become a powerful lens through which to better understand your business, challenge assumptions, and ultimately strengthen how you operate.

Kaitlynn Brady

Partner

Melbourne

Insights

AASB 18 — What you need to know about the next big accounting standard

AASB 18 Presentation and Disclosure in Financial Statements is the next big accounting standard that will affect most entities who prepare general purpose financial statements.

2 contributors

Melbourne

Insights

AI as an enabler

AI’s enabling power spans diverse applications and fields. Unlike traditional technologies, AI possesses the ability to learn, adapt, and perform tasks that typically require human intelligence, making it a versatile tool for organisations seeking to stay competitive in a rapidly evolving market. AI fosters collaboration between humans and machines, augmenting...

5 Partners

Melbourne, Sydney, Adelaide, Perth

Insights

AI risks and opportunities

The integration of AI into various sectors presents a unique blend of risks and opportunities that organisations must skillfully navigate. This section explores the dual nature of AI’s impact, focusing on the practical implications for business and society, offering a more pragmatic exploration of how AI reshapes industries and introduces...

5 Partners

Melbourne, Sydney, Adelaide, Perth

Insights

AI ethics and governance

The rapid advancement of AI underscores the necessity for robust ethical frameworks and governance mechanisms. AI ethics and governance have emerged as essential areas of study and practice, aiming to ensure that AI technologies are developed and deployed in ways that are responsible and safe. There are a wide range...

5 Partners

Melbourne, Sydney, Adelaide, Perth

Insights

Risks associated with data governance

The dominant risk identified in relation to data governance is that of cyber security attack (57 per cent). Interestingly, the second most perceived risk relates to human involvement and a lack of staff skill and knowledge (44 per cent). This is reassuring as organisations appreciate that risks relate to both...

Kaitlynn Brady

Partner

Melbourne

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Insights

Seeking external valuations on land and buildings in 2023

We are progressing through another pivotal reporting period, being 30 June 2023. It’s at this time (or earlier) when directors of companies determine that external valuations may be needed in support of the carrying value of land and buildings recorded in the balance sheet. These could be either owner occupied...

Kaitlynn Brady

Partner

Melbourne

Insights

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Kaitlynn Brady

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5 Partners

5 Partners

5 Partners

Kaitlynn Brady

Kaitlynn Brady

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