The ever-evolving regulatory environment poses a number of challenges for both the preparers and the users of financial reports.

Preparers of financial reports are faced with the difficulty of applying complex accounting standards to intricate business structures and transactions while maintaining transparency and clarity.   Meanwhile, directors must be assured of compliance and the reasonableness of positions taken within the financial reports.
Ineffective financial reporting practices may not only expose the business to the risk of non-compliance but can also hinder the business’ operations and may ultimately be very costly.

Understanding the various regulatory changes is imperative to preparing financial reports that are not only legislatively compliant but are effective in improving the business’ operations.   With the rapid rate of change in the regulatory landscape, however, keeping up to date can be challenging.

Through our national technical division, William Buck assists organisations with advice on the proper implementation of the Australian Accounting Standards (AASB), the Australian equivalents to the International Financial Reporting Standards (AFRS) and other regulations.

We have a proven track record for assisting companies to understand the ‘real-life’ implications of abstract standards and interpretations, and their practical applications.

We also act as independent technical advisors to our clients. Often organisations need independent technical advice or second opinions to support complex restructuring, significant transactions and financial reporting compliance. Our service is designed to provide technical opinion and to assist your organisation with improvements in your financial reporting.   We ensure that any issues and changes identified are dealt with promptly and effectively.

How we can help

  • Providing tailored training courses
  • Independent technical advice
  • Regular updates on changes to the accounting standards
  • Responding to the AASB / AUASB on exposure drafts

All the Latest From Our Audit & Assurance Team

Small companies may become large as a result of additional assets recognised under the new lease standard

Posted By William Buck News on 11/01/2019 10:22:40 am

All Australian business leases will be subject to new accounting rules from January 1 2019, which could have significant impact on an entities overall financial…

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Update on Not-for-Profits accounting for peppercorn leases

Posted By William Buck News on 07/01/2019 10:29:56 am

On 24 December 2018 the AASB issued an amending standard AASB 2018-8 Amendments to Australian Accounting Standards – Right-of-Use Assets of Not-for-Profit Entities that provides…

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NFP accounting landscape set to change

Posted By William Buck News on 21/12/2018 10:30:37 am

The already complex accounting landscape for Not-for-Profits, is set to change beginning 1 January 2019, with the Accounting Standards Board  new income and revenue recognition…

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Festive fraudsters risk to businesses

Posted By William Buck News on 03/12/2018 03:05:19 am

While the Christmas holiday break is traditionally considered a time to unwind and reflect on the past year, it can also be one of the…

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