EY are breaking up! This Week In Audit Rebooted Ep001
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- čas přidán 18. 09. 2022
- I'm baaaacccckkkk! Hey audit friends - it's been a while! But I'm trying to get back into more regular content with a weekly (hopefully) show. What do you think?
Mentions in the video
My new free intro accounting text - oer.pressbooks.pub/utsaccount...
Accts Daily article on the split - www.accountantsdaily.com.au/b...
The Aussie Corporate - / theaussiecorporate
New AUASB standards portal - standards.auasb.gov.au/
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My ultimate audit study video guide is on my website - everything you need to know to ace your audit exam
amandalovestoaudit.com/learni...
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We’ve missed you. Glad to see you are back!
Thank you!
I never thought 30 yrs ago when I got into the accounting field, it would become so complicated and important. I wish folks would expand their reasonings for getting into accounting or any profession.
Hi Amanda! Thank you so much for your video. I failed my audit subject a year ago, and then watched your videos, and finally passed my last subject in CPA. Without your help, I wouldn’t have been able to pass the exam. Thank you so much for everything. Wish you all the best. ❤❤❤
Congratulations Sook Yeon!!!
It is never boring watching your audit videos, we can all only hope you have more time in the coming weeks to make more videos
Thank you!
I have been waiting for your contents about Audit!! Welcome back. I can't wait for more :D
Thanks Kelvin! Hope you enjoyed this week’s episode ☺️
Praise God you are back here going forward the value addition drive. Thanks ever Ma!
Thank you! I’m excited to be back!
Hi Amanda,
I'm glad you're back to YT. I like the rich contents of your audit videos and they really enhanced my knowledge in audit.
Thank you for the good work.
Thank you Doe!
Hello Amanda!
I have been following your channel for a while now and thanks to your videos, I was able to clear my audit paper last term. So thanks! Keep up your great work.
Fantastic news atic! Congratulations!
well done Amanda! Proud of you
Welcome back. I feel like a child again looking at your videos. EYs issue to me is hedonism, that perception of thinking they can do two areas effectively which are controls and advisory. Although I am quitting ACCA at level 2 because I do not comprehend my failure. Seeing the prestige passing it gives me that same impression of wealth and hierarchy. I will continue improving in audit by looking at you. 😊
Thanks Brandon for the message! It’s great to be back ☺️ audit skills and knowledge are useful in any career - not just audit ☺️
It's really been a while 😃. Happy you are here again. Thank you very much for everything.
You’re welcome! Thanks for still watching 🙏❤️
I am giving exam in March now watching you
Good food for thought. Gotta go watch that Netflix special! Glad you are back!
Let me know what you think about the special - I can’t wait to finish it!
I was checking and going through some of your contents last night and realized you're away for around 9 months. Now here's a new video, glad you're back!
Hey Anoop! Hopefully the old stuff is still helpful ☺️
@@amandalovestoaudit Always!!!
Hi Amanda, we missed you
Thanks for the episode
Hi! I missed all of you too! Thanks for saying hi ☺️
Oh my goodness!!!! Welcome back! We missed you
Thank you!
I am from Bangladesh.
Welcome back, I always miss your lecture.
Thanks Abdur!
Welcome baaaaack!!!
Thank you!
Hard times are coming, so big 4 companies creating parachutes for themselves.
Ah, we have guiding star again!!!
Thank you Igor 🙏❤️
It’s worrying that the big 4 are continually being fined for gross audit failings and get a relatively small fine. If this happened at the independent regional level, we would lose our audit status.
Exactly
“Too big to fail” is an issue - same reason the US govt bailed out big banks in the GFC, and car manufacturers
Hey Amanda. Starting as a Staff I. really excited but a bit nervous in how i can apply theory to application.
Hi - congrats on getting a position! It’s all about practice. Ask questions of your supervisor or senior - why are you doing something? When they give feedback - learn from your mistakes and why they want you to do something differently.
Love from India ❤
Ohh we missed your uploads...
I missed everyone too!
In terms of engaging specialists (e.g. Actuarial, IT, and valuation services), how will the new Assure Co be able to operate without having to use contractors for some of the work? Hiring specialists who are only able to work on audits would be more costly as they would not be able to supplement the high cost of hiring dedicated specialists by providing additional consulting/advisory services to non audit clients.
I believe hiring external experts would still be permitted under ISA620. But funnily enough, the firm would technically still be able to hire an expert from NewCo
@@amandalovestoaudit In that case would objectivity be impaired? EY is doing this because they want to do more consulting work for software companies that they currently audit.
@@NotBen101 The Auditor has to evaluate lots of factors before using the Expert's work.
Like their competence,
Whether or not their work is subject to professional standards or licenses,
Evaluate any relationships they make have with the company being the audit client, like financial interest etc.
Then If all is assessed to be at an acceptably low level of risk, then the Auditor may elect to use that Expert's work.
3rd year student in BcomAccounting by the way😊
Hello sister, could you how find out the corruption in company by use data financial information
Hi Amanda.
Welcome back, we missed you.
I have a question, who audits the Auditors?🙆
From what i know I think IRBA is the one that "audits", audit firms
Their financial statements are not audited at all. However, there should be a government regulator in every country who is responsible for oversight of audit firms and is supposed to check the quality of audits and adherence to standards
@@amandalovestoaudit Thank you
@@tshegofatsosphiwe3291 I Believe IRBA regulates the audits noy necessarily carries it out. More like a framework than an audit.
Neh?
This EY development is highly likely to affect the revenue potential for audit services and might result in a brain drain for audit firms however it may eliminate self-interest and review threats if the services lines are perceived to be independent
Let’s hope so!
Hello Amanda, Welcome back. Which app do you use for this lecture? Thanks
Hi! I use a green screen to place myself within my slides which I draw on using my iPad Air and the PowerPoint app
I think it’s a bad idea. Yes, wirecard scandal was bad. But it happens. They should stay intact. Kpmg, Pwc & Deloitte will benefit from shared overheads across their different services and continually growing revenues.
This is a good point - separation just results in them starting to build consultancies from scratch after a few years. Shared overheads for support costs makes sense.
But is the desire to continuously grow revenues a risk for the self-interest threat (to independence)?
@@amandalovestoaudit Yes lol, also the consulting can sometimes be a self-review threat (to objectivity)? All the best Amanda! ❤South Africa.
Love you madam
I aspire to become a Chartered Accountant and PHD in audit and economics too
You are my inspiration
Love from Pakistan
Go for it Hussain!
Hi Amanda
Hi Deborah! Thanks for watching ☺️
Hii mam trust you are doing well.
Just wanted to ask will that create any impact on scheduling of interviews at EY.
I am from India 🇮🇳🇮🇳
I don’t think so - hiring should continue as normal
EY worst audit firm racist and bully