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Caseware is introducing a cloud-based solution for firms to document, operate and monitor their systems of quality management – all in one solution: Caseware SQM, a powerful app offered on the Caseware Cloud platform.
The new standard requires that a firm establishes a system of quality management, which involves more than having a manual with policies and procedures. It must operate in a continual and iterative manner, and be responsive to changes in the nature and circumstances of the firm and its engagements.
The implementation of the Australian Standard on Quality Management 1 Quality Management for Firms that Perform Audits or Reviews of Financial Reports and Other Financial Information (ASQM 1), or Other Assurance or Related Services Engagements is imminent. The level of readiness of professional audit and accounting firms ranges from some firms who are already hard at work towards implementation to others who are starting to realise that they have a lot of work to do towards implementing the standard.
The new standard requires that a firm establishes a system of quality management, which involves more than having a manual with policies and procedures. It must operate in a continual and iterative manner, and be responsive to changes in the nature and circumstances of the firm and its engagements.
Technological advancements impacting businesses have never been more profound and are playing an integral part in shaping the audit profession. Technology is increasingly important to the way that practices conduct day-to-day operations and this will continue to be true for the future.
New standard released in late June 2022 will result in increased disclosures for many special purpose financial statements of for-profit entities
We have finally reached the 30 June 2022 reporting period when certain For-Profit private sector entities are no longer able to prepare special purpose financial statements. Given the number of queries which continue to be received on this topic on an almost daily basis, we have summarised the considerations for…
Tier 1 financial statements are required for publicaly accountable entities or other entities specifically required by a regulator to prepare Tier 1 financial statements.
A must read eBook for firms looking to stay ahead of the curve. Touching on challenges, experience, automation, collaboration and the importance of the cloud, the resource outlines how firms can continue to separate themselves from the increasingly competitive audit landscape.
A fantastic resource that breaks down 5 key steps at an organisational level that allow you to capitalise on data analytics for Internal Audit!
With modern data analytics, auditors sort through vast sums of linked and interrelated data sets to reveal transactions that don’t fit the normal patterns Excel might be able to find. These These transactions can include everything from material misstatements to indications of fraud.
Connector is an add-in for Microsoft® Word and Microsoft® Excel® that enables you to link data between Working Papers and Microsoft® documents. Read the whitepaper to understand the potential of our most versatile tool!