Monday, March 27, 2023
Chartered Accountants ANZ and Professor Peter Wells have recently published a report "Can digital reporting tame the corporate reporting beast?" exploring how digital reporting can potentially address the challenges faced by corporate reporting.
This report is relevant to both the AASB and AUASB’s work programs. In particular, the Parliamentary Joint Committee (PJC) inquiry into the Regulation of Auditing in Australia recommended that the Australian Government take appropriate action to make digital financial reporting standard practice in Australia.
To support this recommendation, the AASB has taken steps including incorporating digital reporting into its monitoring project and featuring the topic in a virtual dialogue series that aims to educate and inform stakeholders.
The AUASB also closely monitors assurance related developments associated with digital financial reporting, and the potential impact on auditors and the conduct of audit engagements.