Meeting Your Financial Reporting and Auditing Needs

Accounting Advice

• Review of proposed policy on accounting for Public Private Partnerships, and a review of 12 PPP agreements to determine their economic substance

• Grant accounting regarding a long-term dispute between an Auditor-General’s Office and a hospital

• Disaggregated information in whole of government reporting

• Lease accounting

• Purchased and internally generated identifiable intangible assets, in particular intellectual property

• Investment properties

• Grant accounting

• AIFRS diagnostic reviews in the public, private and listed sectors

• IPOs re business combinations

• Inventory and cemetery land

• Report to Audit Committee on the process of the transition to AIFRS

• Preparation of accounting submissions on AIFRS transition

• Report on the impact of AIFRS on government business undertakings

• Capitalisation of computer software expenditure

• Amortisation on the customer contracts

• Preparation of a manual on accounting for infrastructure assets

• Consolidations, and

• Financial instruments: classification and impairment.

Auditing Advice

• Approach to a performance audit of accountants in relation to a government service contracts

• Review of the Audit Module of the CPA Program

• Audit independence to accounting firms

• Qualified and specialised audit report

• Auditor’s report on ACCC enforceable undertakings, and

• Software tools for the new auditing standards.

Other Professional Services

• Strategic advice to accounting firms regarding risk management services, including tender preparation and presentation,

• Assistance with ASIC reviews, and

• Author of internal and external newsletters for accounting firms.

Tailored Training

• Preparation and presentation of a two-day training course on financial statement review of AIFRS (16 modules) for a regulator

• Presentation to a regulator’s summer school on audit independence under CLERP 9 and professional standards

• Presenter at internal training sessions on financial reporting

• Briefing sessions to CFOs and their accounting teams on AASBs

• Audit independence requirements

• Legally-backed auditing standards for auditors

• Client presentations on financial reporting for SMEs, legally-backed auditing standards and year-end reporting developments, and

• Refresher courses on individual accounting and auditing standards.

Corporate Governance

• Review of the appropriateness of key elements of the Corporate Governance framework. This significant and complex series of engagements involved review and reporting on: financial management instructions; internal corporate governance design and reporting; controls over elements of financial management; corporate governance formulation at business units; and elements of internal assurance framework

• Risk assessment reports on fraud framework, compliance framework, risk management framework, strategic planning process

• Review of publication on ‘Best Practice Corporate Governance’

• As an independent Audit Committee member, participation at Audit Committee meetings, and

• As a member of the AASB, participation at AASB meetings.

Litigation

• Independent expert’s report on financial and auditing aspects of work performed by a registered company auditor

• Assistance with preparation of the cross-examination of an expert witness that included review of Statement of Facts and Contentions and the witness statement, review and assessment of independent expert’s report, review of financial reports, and research into relevant GAAS and GAAP

• Independent expert advice on accounting issues in sale agreement dispute between two listed companies

• Independent advice on lease accounting at request of a regulator

• Independent advice on revenue recognition at the request of a listed company in a dispute with a regulator, and

• Independent advice on leasing accounting and related issues at the request of an accounting body for an Audit Commission.
   

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