22522 Autumn 2016 - Topic 2 - ethics and audit quality

IMPORTANT NOTE: 2020 lectures and slides are now available

This lecture examines the sources of legal liability for auditors and the ethical requirements as set out by the Corporations Act and APES 110.

Want to download a PDF of the PowerPoint slides I use? Find them here on my blog:

PowerPoint slides published in this video are used with permission from Pearson Australia.

[linkysc]

Hi Ms. Amanda,

Thanks for doing posting these videos, they're very helpful for my upcoming audit class. I'm in the U.S. and you mentioned our public companies must rotate audit firms, rather than audit partners. I was curious, and Googled some info which seems to contradict this requirement - there seems to be no requirement to rotate audit firms in the U.S. Can you please clarify?

[laiqshinwari]

Hello!! is this lectures are valid for International Standards on auditing or only for Australian auditing standards?

[arieboles]

I have seen an auditor jailed, In UK Morrisons auditor jailed for eight years after leaking data on 100, 000 employees (he was an internal auditor but) :)
About the rotation of the Auditor partners, Can two partners rotate on an engagement every 5 years? If yes, how can we reduce the risk of familiarity?
Does this apply on SMSF audits too?
Thank you