Audit Conference 2019 - Brisbane

Audit Conference 2019 - Brisbane

 

    • Tuesday, 19 March, 2019
    •  
      8:00 AM  -  8:30 AM
      Registration
      8:30 AM  -  8:45 AM
      Welcome address
      8:45 AM  -  9:30 AM
      Why is Audit Quality constantly subject to question?
      Key messages coming out of the Audit Quality in Australia paper commissioned by the AUASB and FRC joint project. Key messages coming out of the ASIC 2018 Firm Surveillance report. Facilitated questions from the session chair. From each of the panelists what is the key message for the audit community who audit in the mid to smaller client space.
      9:30 AM  -  10:15 AM
      Auditing Accounting Estimates under the revised ASA 540. Quantum shift or not?
      The case for change, including the views of the regulators on the quality of the application of the previous standard. What has changed in ASA 540 in practical terms How to apply the revised requirements in a smaller client environment How ASA 540 might be applied in relation to new accounting standards.
      10:15 AM  -  10:45 AM
      Morning tea
      10:45 AM  -  11:30 AM
      The Code of Ethics for Professional Accountants has been restructured. Are you ready?
      Brief outline of the major changes to the Code; a reminder of NOCLAR obligations, not just of auditors but of others within their firms and accountants in business; the new Audit Partner rotation rules effective from 1 January 2019; what’s on the agenda of IESBA and APESB in the near future.
      11:30 AM  -  12:15 PM
      The Australian Financial Reporting Framework – Are Special purpose financial statements gone?
      Business case for change; what stakeholders have articulated on this topic; what is planned for profit entities, what is planned for NFP’s?
      12:15 PM  -  12:45 PM
      Innovation – Do you know what this could mean for your clients?
      Highlight the Government assistance programs that exist, including R&D Tax Incentives, Export Market Development Grants and Accelerating Commercialisation. How introducing your clients to eligibility for government programs, can help you build a more valuable accounting business.
      12:45 PM  -  1:35 PM
      Networking lunch
      1:35 PM  -  2:15 PM
      CS1A - Auditing Financial Statements. Do you really pay enough attention?
      Points of focus for auditors of general purpose and special purpose financial statements. Examples of where little thought has been put into auditing financial statement disclosures, What tools are available to help with getting financial statement disclosures right.
      1:35 PM  -  2:15 PM
      CS1B - Going Concern. Are your assessments robust enough?
      Brief outline of the major requirements of ASA 570. Change to auditor’s reporting when a significant uncertainty is identified, as it pertains to the old emphasis of matter paragraph. The presenter will give the audience a number of examples of how to conduct a thorough going concern assessment. The presenter will also look at the Dick Smith numbers prior to insolvency in a different way.
      1:35 PM  -  2:15 PM
      CS1C - Analytics for Audit – What and How and Why?
      Is using Analytics viable for my practice? Doesn’t it need specialists to run the programs? How can analytics really be applied in an audit – isn’t it contrary to the audit standards? What real-life cases make applying analytics during an audit worthwhile? How have other firms’ implemented analytics?
      2:15 PM  -  2:20 PM
      Room Change
      2:20 PM  -  3:05 PM
      CS2A - SMSF – What’s new in 2019?
      Emerging issues for the SMSF Sector and what the ATO is focussing on for SMSF Auditors. Tips and traps for auditors, trustees and advisors based on what the ATO is seeing as the Regulator. Recent case law and legislative changes.
      2:20 PM  -  3:05 PM
      CS2B - ASA 315 proposed changes. How to assess Audit Risk in a smaller client environment
      The case for change, including the views of the regulators on the quality of the application of the previous standard. What has changed in ASA 315 in practical terms. Is this Auditing standard applicable to smaller clients. How to apply the requirements in a smaller client environment.
      2:20 PM  -  3:05 PM
      CS2C - Modifying an Auditor’s Opinion – Do you understand how complex this can be?
      Real company scenarios and the thought processes applied in landing at an appropriate auditor’s opinion.
      3:05 PM  -  3:30 PM
      Afternoon tea
      3:30 PM  -  4:15 PM
      Smaller Audit Engagements. What do you want from the IAASB?
      Background to the establishment of the task force. Activities of the task force. Next Steps. Stakeholder engagement.
      4:15 PM  -  5:00 PM
      ACNC – What’s new in 2019?
      The role of the ACNC. Changes to charity reporting requirements (including the Annual Information Statement). Red tape reduction initiatives. Response to the 5-year legislative review completed in 2018. DGR reform including External Conduct Standards. ACNC initiatives (including enhancing information available about charities). Any other relevant topics that arise before the events (likely to include changes to charity reporting as a result of AASB consultation).
      .:
      5:00 PM  -  6:00 PM
      Have a drink on us
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