By Jeff Bathurst, SC&H Group
Today, technology is an element of nearly every business, which means every business on earth needs a practical cybersecurity plan. If you collect confidential data or utilise cloud technology, that information is potentially vulnerable. But fear isn’t the answer – preparation is.
By Anders Hübertz Mortensen and Mads Anker Jensen, Dansk Revision Randers
During the autumn of 2018, one of our clients asked us if we could facilitate an audit tender for them. Their current solution in Germany and Switzerland was, for a number of reasons, unsatisfactory, due mainly to the fact they did not feel anyone had taken the responsibility as group auditor. This made the yearend process slow and frustrating. For historical issues, our firm has a strong position in the group. They still wanted our company, Dansk Revision Randers (Denmark), to be the auditor for the Danish entity but wanted a change for the rest.
By Dr Thomas Geiger, Munkert & Partner Steuerberater Wirtschaftsprüfer Rechtsanwälte GbR
Starting with the current busy season, the wording of audit opinions for non-PIEs will be significantly different from the previously issued auditor’s opinions in Germany.
By Helmut Havenith, Audit Central SARL
Part II of a two-part series
The respect of ISA600 on group audits has become a focus of the regulators of the profession. Having discussed last time on consolidated financial statements hereafter a few more lines on the standard.
By Ufuk Doğruer, Financial Axis Independent Audit & Consulting Inc
What is ‘Occupational Fraud’? ‘Occupational fraud’ occurs if the top management, employees or third parties are deliberately engaged in fraudulent behaviours in order to provide benefits. The fraudulent forms of movement aimed at providing unfair gains can be realised in many different forms.
By André Henrique Gaspar de Oliveira and Luísa Zanini da Fontoura, Maciel Auditores
Over the years, auditing has retained its significance in public finance and, as such, Supreme Audit Institutions (SAI) 1 receive constitutional recognition in many countries around the world, including Brazil. Although it has been argued that Brazil suffers from serious accountability deficits, here, as watchdogs of public finances, the auditors act to enforce accountability of executive agencies to national and state legislatures and through them to the general public.
By Allan Mundell, Nolands SA
After a considerable process of local and international consultation lasting a year, the IRBA (Independent Regulatory Board for Auditors) recently announced plans to implement Mandatory Audit Firm Rotation (MAFR) in South Africa. The directive effectively puts a time limit on the relationship between auditor and client.
By Michael Reiss von Filski, GGI
Whilst in the accounting profession, global networks and associations are ranked according to their (financial) size, it is not always evident what this means for the quality of services provided. At least, and this is the advantage of the accounting profession, the figures available to compare different networks and associations are a rather reliable and measurable way of accountability. It is generally accepted that a larger entity, organisation or alliance cannot be that bad. Some even go even as far as to preach that the bigger the better.
By Dmitry Sklyarov, ADE Professional Solutions
The national transition to the IFRS programme started in Russia in 1998. It was initiated and driven by the National Council on the financial standards. The significant step towards the convergence and implementation of International Financial Reporting Standards (IFRS) in Russia was enforced in 2010 by Federal Law #208 concerning “consolidated financial statements”. The law obliges public companies and their sub-holdings to prepare consolidated financial statements in accordance with IFRS and disclose them publicly within 120 days of the reporting date with the audit opinion enclosed.
By Kassim Harunani, Lawrence Grant
Changes and updates have been introduced to the UK GAAP which relate to the FRSSE (Financial Reporting Standards for Small Entities) and FRS’s (Financial Reporting Standards), by the FRC (Financial Reporting Council) in the form of FRS 100, FRS 101 and FRS 102. The revisions fundamentally reformed financial reporting. These 3 financial reporting standards will replace almost all extant standards.
