Date posted: 25/10/2023

Understanding Audit

20 questions: a plain English guide to audit in Australia and New Zealand for investors and other stakeholders.

In brief

  • CA ANZ publishes a new guide to empower readers with a better understanding of audit
  • Distills complex concepts using plain English to make audit more accessible
  • Addresses several common misconceptions around audit through a series of FAQs

CA ANZ has published a new guide; Understanding Audit, that aims to empower investors and other stakeholders with a better understanding of what audit entails and what auditors do. Through a series of frequently asked questions (FAQs), and using plain English, this guide is designed to break down complex concepts into digestible information making auditing more accessible to a wider audience.

Audit continues to evolve alongside the ever-changing landscape of business and technology. Regulatory frameworks governing audits in Australia and New Zealand have responded by constantly adapting to accommodate emerging risks and shifting public expectations. This adaptability ensures that the audit profession remains relevant and effective in its mission to reinforce integrity and facilitate access to reliable financial information.

Despite the crucial role of auditing, there remains several common misconceptions around what audit is and what auditors do. We hope readers find this guide useful, and it goes some way to narrowing this knowledge gap.