INTHEBLACK April 2026 - Magazine - Page 35
“AI is going to automate so much for us, so that’s
why we need to be broader in our storytelling
about how a company is performing.”
PROFESSOR MICHAEL DAVERN FCPA, THE UNIVERSITY
OF MELBOURNE
Tan also encourages audit teams to strengthen
AI governance by establishing risk assessment
frameworks and training staff on algorithmic bias
and transparency before integrating AI tools into
audit methodologies.
“Stay ahead of regulatory changes by monitoring
updates from the IAASB [International Auditing and
Assurance Standards Board], AUASB [Auditing
and Assurance Standards Board] and regional
bodies, and actively engage in consultations
and industry forums.”
Upskilling in sustainability reporting can boost
careers, Viljoen adds.
“With mandatory climate-related disclosures now
in effect for larger businesses, accounting
professionals should consider deepening their
sustainability expertise,” he says. “Organisations are
increasingly looking for and value professionals who
can interpret environmental data, assess risk
and translate these insights into actionable plans
that drive long-term business value.”
8. WORKING ACROSS BORDERS
As businesses expand internationally, audit plays
a crucial role in ensuring consistent, reliable financial
reporting across borders.
Frameworks such as the International Auditing and
Assurance Standards provide a common language
for auditing and assurance, enabling consistency
and trust. “Whether auditing in Sydney, Singapore
or Seoul, professionals apply the same principles,
ensuring comparability and reliability of financial
information worldwide,” Tan says.
“Audit firms and professional associations such
as CPA Australia operate globally, offering shared
resources, methodologies and training to navigate
complex cross-border engagements.”
Yet Tan warns that local regulations may differ.
Understanding these nuances when applying global
BOLD SIGNALS intheblack.cpaaustralia.com.au 35
