#AuditorProud Day 2017: Why audit remains more critical than ever

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#AuditorProud Day will happen on 28 September 2017 and members will celebrate the occasion by sharing stories of what they love about auditing and what makes them proud to be an auditor.

In a world full of advertising, people still look for accurate information about the institutions and companies they do business with and they recognise that sound bites can’t be taken at face value.

There is an increased demand for trusted information. Accountants are high on the trust index because of their training and practical wisdom.

They are valuable especially to those who need assistance and struggle with complex and changing legislation.

A financial statement auditor reports to an entity’s shareholders and the latter’s representatives assess the trust. There are changes to auditor reports starting this year, making the reports easier to understand.

The reports will also start to highlight the auditor’s independent opinion. For some entities, key audit matters in public reports will also have commentary, which will highlight what the auditor considered for the audit of that entity and summarise how the auditor addressed it.

It’s important for users to be able to compare their own assessment to areas of key audit attention and see some details of the audit to be able to evaluate whether or not it meets their expectations.

There will also be an audit technology competition for university students, who will be challenged to come up with innovative ways that technology can improve the financial statement audit process and boost the audit’s trust and value.

#AuditorProud Day will let people know that the importance and value of audit remains more important than ever. Taking the time to remember the good things about audit could help a wider audience appreciate it.

What can you do?

If you would like to know more about auditing, you can click here to know more about Chan & Naylor services. You can leave your details here and we can schedule you for a free consultation. We’ll contact you to explain more.

Whether you are a beginner, seasoned investor or business owner, we can give you guidance to maximise the financial areas of your life. We can give you an integrated and tailored solution of your superannuation, taxation, property investment, asset protection, estate planning and more.

Click here to schedule a chat or call any of our local offices near you.

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Chan & Naylor Group has nationwide offices in Brisbane and Capalaba in Queensland, Melbourne and Moonee Ponds in Victoria, East Perth in Western Australia, and South West Sydney, Parramatta, Pymble, North Sydney, and Sydney in New South Wales.

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