MofBlog os This section is where the user documentation for your project lives - all the information your users need to understand and successfully use your project.
For large documentation sets we recommend adding content under the headings in this section, though if some or all of them don’t apply to your project feel free to remove them or add your own. You can see an example of a smaller Docsy documentation site in the Docsy User Guide, which lives in the Docsy theme repo if you’d like to copy its docs section.
Other content such as marketing material, case studies, and community updates should live in the About and Community pages.
Find out how to use the Docsy theme in the Docsy User Guide. You can learn more about how to organize your documentation (and how we organized this site) in Organizing Your Content.
News
2024 Lunar New Year
Basford Consulting wishes you a happy and prosperous year of the Dragon.
恭喜發財!龍年如意!
Merry Christmas 2023
Basford Consulting wishes our clients and friends a merry Christmas and happy New Year. We look forward to catching up with you in 2024.
2023 Lunar New Year
Basford Consulting wishes our clients and friends health, happiness and prosperity in 2023, the Year of the Rabbit.
Merry Christmas 2022
Basford Consulting wishes our clients and friends a merry Christmas and happy New Year. We look forward to catching up with you in 2023.
2022 Lunar New Year
Basford Consulting wishes our clients and friends health, happiness and prosperity in 2022, the Year of the Tiger.
Merry Christmas 2021
Wayne and Susan are excited to welcome Kay Kelly to the Basford Consulting team. We have updated our website to provide timely insights and resources dealing with accounting and auditing matters targeted to our clients who are CFO’s, directors, members of audit committees, auditors and litigators.
Basford Consulting wishes our clients and friends a merry Christmas and happy New Year. We look forward to catching up with you in 2022.
2021 Lunar New Year
Basford Consulting wishes our clients and friends health, happiness and prosperity in 2021, the Year of the Ox.
Best Wishes for 2021
Happy New Year!
To celebrate the new year, Basford Consulting has launched a new and improved website. We look forward to providing relevant information and resources to our clients on topical issues for accountants, auditors, audit committees and lawyers.
The new year is a good time to view the horizon of changes to accounting and auditing standards in 2021 and beyond. We hope you enjoy our two articles, "2021 the horizon for Auditors" and "2021 the horizon for Accountants". In future articles we will provide further in-depth guidance, considering practical issues our clients may face when implementing these new and revised accounting and auditing standards.
Best wishes from Wayne, Susan and the team at Basford Consulting
Analysis
Understanding the Audit Process
At Basford Consulting, we assist lawyers in matters involving alleged accounting and auditing failures. Our FAQ, Frequently Asked Questions, are designed to assist lawyers understand the key aspects of an audit that give rise to litigation and dispute upon which we regularly provide expert evidence.
An auditor is required to design and perform audit procedures to issue an audit opinion on whether or not an entity's financial statements comply with Australian Accounting Standards (AASBs) as issued by the Australian Accounting Standards Board.
The audit is governed by Australian Auditing Standards (ASAs), which are in line with International Auditing Standards (ISAs). Whilst the assurance given by an auditor is not absolute, it is a significant "tick of approval" for users of those financial statements, particularly in respect of impairment and going concern.
From our experience, the application of auditing standards should be straight forward. However, in many of the disputes upon which we have been asked to opine upon, the auditor has failed to obtain sufficient audit evidence, relying upon representations received from the client. As a consequence, the auditor gave an unqualified audit opinion, on financial statements that were not prepared in accordance AASBs.
We have over 60 years of combined experience, understand the audit process and the requirements and application of the ASAs, these FAQs should allow lawyers to quickly focus in on the key requirements a reasonably competent auditor is required to comply with to determine whether there is a case to litigate or defend.
