1 of 13

Slide Notes

DownloadGo Live

New Audit Report AFAANZ

Published on Jun 27, 2018

No Description

View Outline

MORE DECKS TO EXPLORE

PRESENTATION OUTLINE

1.

Assessing the Impact of the New Auditor's Report

Li, Hay, Lau
Photo by NordWood Themes
2.

New Audit Report in NZ

Photo by Daniel Peckham
3.

In New Zealand

  • 15 December 2016
  • Listed companies
  • Early adopters, voluntary adopters
  • Materiality
  • Future extension
4.

Expected effects

Click to add more text here
5.

Audit quality

More? Less?
6.

Audit fees

Extent of work; liability; competition
7.

Highlights

  • Abnormal accruals are lower
  • Audit fees are higher
8.

Method

  • Abnormal accruals
  • Performance matched
  • Absolute plus positive and negative
  • Audit fee model
9.

Data

New Zealand listed companies
10.

Results

  • ABS_ACC lower
  • Positive and negative accruals lower
  • Audit fees higher, 9.3%
11.

Voluntary adoption

12.

Issues

  • Later years?
  • XRB/FMA stocktake: "practitioners and directors noted fees had not gone up"
13.

Untitled Slide

David Hay

Haiku Deck Pro User