Law and audit

Article Abstract:

The implications of CLERP 9 reforms on corporate laws and governance in particular the independence of external auditors are discussed. Consequently, the companies are no longer using their external auditors for non-audit services. It may be recalled that external auditors were used for every type of service ranging from tax advice to internal audit procedure. However, after CLERP 9 reforms corporates are now taking such services from smaller accounting firms.

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Professional discourtesy

Article Abstract:

An overview on the increasing distrust on financial professionals in modern day business organizations in Australia, and need of appropriate regulations to avoid crime rate among the professionals is presented.

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A change is going to come

Article Abstract:

Significant changes in the legally enforceable auditing standards, which operates on 1 July 2006, are presented.

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