New Auditing Reporting Model: The Final Standard ('AS 3101') (Presentation Slides)

Abstract

To what extent are critical audit matters, as well as matters relating to subjectivity and judgment likely to impact the future of financial reporting – particularly the need to exercise adequate judgment, reasoning, supervision and other vital mechanisms of corporate governance? This is already impacting the field of Data and Audit analytics. Effective mechanisms of accountability and disclosures procedures – coupled with all important verification and authorization procedures constitute part of essential components which will be required to address challenges presented in this new era.