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Critical Line Item with Tom Ravlic
Going concern, COVID and clearly telling the story about uncertainty
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The coronavirus pandemic has thrown up a range of issues directors and auditors must worry about as they examine financial issues that stakeholders will see play out for the June 30 year end. The chairman of the Auditing and Assurance Standards Board, Professor Roger Simnett, and Anne Waters, a senior project manager with the standard setter, cover the key points you need to know that appear in a paper that will soon be released by board. Professor Simnett also touches on the impact of technology on audit at the present time and some research opportunities that arise from the current climate.
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Boyd and the NSW edition of consultants behaving badly
35:41The Commonwealth Parliament has been looking at consultants but it is not the only legislature in the country giving the public service and its outsourced brains a good look. Australian Greens' Abigail Boyd is a member of the NSW Upper House. She is the chair of a committee looking closely at how the NSW government engages and deals with consultants. She reveals the motivations behind the inquiry and talks about some of the things that surprised her even given her experience as a corporate lawyer dealing with banking regulation. Boyd also says that the public service and the consultants it hires are not going to have a quiet time of it. The inquiry will keep on gong until they stop having things to look at ....Psychosocial hazards in the workplace
18:45Rehab Management chief executive officer Renee Thronton spends her time looking at workplace issues and she joins Tom Ravlic to explain what the new WorkSafe rules are around the issues of making a workplace psycholofically as well as physically safe for employees.More on consultants behaving badly .... a view from Senator Pocock
24:22Consulting and accounting firms have been under fire for much of 2023 thanks to the curiosity about their operations expressed by the individuals such as Senator Barbara Pocock, a member of a committee considering what to do with consulting practices that receive government contracts. She updates listeners on her thinking about the sector and the issues that continue to surprise.What is a sustainability standard?
29:56EY sustainability expert Matt Nelson - also a member of the Australian Accounting Standards Board - explains what sustainability standards are and what you might be able to expect from companies that report sustainability information. This is an emerging area and anybody with investments in companies will see a change in company reports over time. Matt explains why the changes are important.Secret State ... insight into a Four Corners report
21:32Four Corners joiurnalist Angus Grigg takes us on a deep dive into the Secret State report and what he and the team found when they went looking at the way in which consultants had embedded themselves in the ecosystem in Australia's national capital.Investigating and reporting on war crimes ...
16:14Journalist Nick McKenzie has been responsible for breakking some of the biggest stories but none more so that the one that led to a marathon defamation case involving Victoria Cross winner, Ben Roberts Smith, and allegations of war crimes. Nick outlines some of the challenges that played out reporting this story and touches on a series of challenges faced by journalists taking on high profile cases.Why does a Senator get interested in audit?
22:47Senator Deborah O'Neill represents the State of NSW in the Australian Senate but is also the chair of the powerful corporations and financial services committee in the Commonwealth Parliament. She got interested in audit a few years back and kick started an inquiry but she's now in the middle of an inquiry into consulting firms and how a government ensures that large global practices keep themselves nice when they take on government contracts. What is her thinking on the way consulting firms behave? Listen in.Reporting entertainers, and being entertaining in a social media era
21:49Entertainment reporter Peter Ford has seen everything in entertainment over many years, and he has seen technology shape the way in which reporters work as well as how personalities and those that report on them get feedback from their audience. He talks candidly in this episode about the pros and cons of social media and the whereabouts of a very special watch.Consulting firms - why are politicians having a closer look?
21:06Australian Greens Senator Barbara Pocock is up to her eyeballs in consulting firms. She and her committee colleagues are busy looking at how the consulting firms are used by the government, how conflicts of interest might be managed and what value the public sector gets from firms. Pocock gives some insight into her thinking on the current problems plaguing Big Four firm PwC as well as a unique perspective on what it was like to try and get funding from government for university research.