Meeting Your Financial Reporting and Auditing Needs

The GAAS Challenge                          

GAAS (generally accepted auditing standards) has changed significantly. There have been over 30 new and revised auditing standards, new ethical requirements, onerous audit independence requirements, and on going quality assurance issues to address. There will continue to be major auditing developments that need to be considered, analysed and implemented. 

There are serious consequences for non-compliance with auditing standards, including criminal sanctions for Corporations Act audits. How are you going to be informed and stay up to date? At what internal cost?

Coverage, Contents, Clarity

GAAS Insight (launched February 2008) is a premium subscription-based email information service that provides auditors with an in-depth analysis of topic specific issues such as:

• New and revised auditing standards, and guidance releases

• Ethical requirements

• Exposure drafts

• Corporations Act revisions and regulatory issues

• Quality assurance, and

• Relevant international auditing developments.

GAAS Insight is intended to assist auditors in managing the regulatory risks by providing information on the latest auditing developments, plus checklists, policies, and precedents that can be used in your practice. While GAAS Insight is primarily designed for use by auditors, it will also assist auditing academics and their students with an understanding of contemporary auditing practice and issues.

Each newsletter typically contains an introduction, executive summary, identification of the changes from existing GAAS, implications, key terms, requirements, actions items, and where appropriate checklists, policies, and precedents . Each GAAS Insight is approximately 10 pages (4000 words); at least 12 GAAS Insights will be issued in a subscription year.

We track the latest auditing developments from the Auditing and Assurance Standards Board (AUASB), Australian Professional and Ethical Standards Board (APESB), Financial Reporting Council (FRC), Company Auditors and Liquidators Board (CALBD), Australian Securities and Investments Commission (ASIC), and other auditing national and international sources. These developments are reviewed and analysed into easily understood newsletters with practice aids (e.g., action items, checklists, policies, and precedents).
 

Annual Subscription

The annual subscription is $795.00 (inc. of GST) per site which equates to only a couple of hours of partner chargeable time. Multiple site fees are subject to separate negotiation.

Knowledgeable and Experienced Authors

GAAS Insight is authored by Colin Parker and Jim Dixon, who have extensive experience with auditing standards, quality assurance, training and audit litigation support.

Uses of GAAS Insight

Timely and authoritative auditing developments accessed by through www.gaap.com.au puts you in control of auditing for the first time. Consider the possibilities opening to you when you use GAAS Insight.

• Be informed of the latest audit developments; analysed with implementation tools (the ‘value add’)

• Reduce your own research efforts and costs

• Access our archive

• Maintain and tailor your own database of auditing developments and practice aids

• Reproduce, manipulate, cut and paste, add your "own touch" for your own internal distribution

• Use the information to stay up to date, prepare reports on the impact of new standards and distribute information throughout your firm

• Enhance your auditing knowledge, and

• Show ASIC and the accounting bodies that your have an authoritative means of keeping up-to-date.

In conjunction with GAAP Alert, and GAAS Auditing Standards Checklists’, our training and advisory services, GAAS Insight provides a comprehensive means of managing your auditing risks and an efficient means of being informed of all the major auditing developments.

All information in GAAS Insight is subject to copyright laws with copyright held by Accountnet Pty Ltd (ACN 007 315 791). The information contained in GAAS Insight can be used only for internal purposes. GAAS Insight information must not be reproduced for external or commercial purposes.

Copyright 2008 : Our Privacy Policy