In this episode, host Gillian Bowen explores the cutting-edge advancements transforming the audit profession. Joined by Steven Watson FCA, Managing Director at National Audits Group and Masood Mehmood FCCA, CA, CA ANZ Senior Policy Advocate - Reporting and Assurance, the discussion looks at how Gen AI, automation, and other innovative tools are changing the audit process, enhancing efficiency, and ensuring higher quality outcomes. The discussion also addresses the opportunities and challenges for audit firms, especially smaller-sized practices, and highlights the new CA ANZ resource, Audit and technology playbook: A practitioner’s guide. Find out how to stay competitive in a tech-driven environment and gain valuable insights from our experts. 

Resources referred to in this episode: 
Audit and technology playbook: A practitioner’s guide 
Acuity article on the guide
CA ANZ Cyber Security Playbook
CA ANZ’s Certificate in AI Fluency
CA ANZ’s micro courses 
Exploring the IESBA Code - A Focus on Technology guide
IESBA’s Technology-related Revisions to the Code
IAASB ISA 220 (Revised), Quality Management for an Audit of Financial Statements
IAASB ISA 315 (Revised), Identifying and Assessing Risks of Material Misstatements
International Standard on Quality Management (ISQM) 1 

In this episode, host <a href="https://www.linkedin.com/in/gillianbowen/">Gillian Bowen</a> explores the cutting-edge advancements transforming the audit profession. Joined by <a href="https://www.linkedin.com/in/stevenwatson11/">Steven Watson FCA</a>, Managing Director at National Audits Group and <a href="https://www.linkedin.com/in/masood-mehmood-fcca-ca-861b8b10/">Masood Mehmood FCCA, CA</a>, CA ANZ Senior Policy Advocate - Reporting and Assurance, the discussion looks at how Gen AI, automation, and other innovative tools are changing the audit process, enhancing efficiency, and ensuring higher quality outcomes. The discussion also addresses the opportunities and challenges for audit firms, especially smaller-sized practices, and highlights the new CA ANZ resource,&nbsp;<a href="https://www.charteredaccountantsanz.com/news-and-analysis/media-centre/press-releases/the-power-of-advanced-technologies-in-audit">Audit and technology playbook: A practitioner&rsquo;s guide</a>. Find out how to stay competitive in a tech-driven environment and gain valuable insights from our experts.&nbsp;
Resources referred to in this episode:&nbsp;
<ul>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1"><a href="https://www.charteredaccountantsanz.com/news-and-analysis/media-centre/press-releases/the-power-of-advanced-technologies-in-audit">Audit and technology playbook: A practitioner&rsquo;s guide</a>&nbsp;</li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1"><a href="https://www.acuitymag.com/business/five-ways-auditors-can-lead-digital-transformation?adobe_mc=MCMID%3D81338469364423418454219640488135553009%7CMCORGID%3DE8464D1A576ABE727F000101%2540AdobeOrg%7CTS%3D1746164629">Acuity</a> article on the guide</li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1"><a href="https://www.charteredaccountantsanz.com/tools-and-resources/client-service-essentials/business-mindset/ca-cyber-security-playbook">CA ANZ Cyber Security Playbook</a></li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1">CA ANZ&rsquo;s&nbsp;<a href="https://www.charteredaccountantsanz.com/news-and-analysis/media-centre/press-releases/accountants-balancing-their-skills-with-new-ai-fluency-certificate">Certificate in AI Fluency</a></li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1">CA ANZ&rsquo;s&nbsp;<a href="https://charteredaccountantsanz.my.site.com/MyCA/s/login/?display=page&amp;ec=302&amp;inst=W2&amp;startURL=%2FMyCA%2Fsetup%2Fsecur%2FRemoteAccessAuthorizationPage.apexp%3Fsource%3DCAAAAZakJ4yJMDAwMDAwMDAwMDAwMDAwAAAA_qaB1H9fAP5_QZiCWhH6C7DpULDXhJ52zuQzpF2lUIEMvRlpZy6JQBr0S4rqA-ZJpIshF8dqtId_kgMbWzkyyD2KByIctYrc5QyQRrq8k8jTNrX9LRBWFKrZ4I54QgtBlAwmpn644qe3MJ2bK-cWykWKiHbv29rQqlG-vcL9eE36Ncx7Kcw_3dtg6PmQaNkuOIL7UEaAPbI3kTq-TlpcDHTQ_vTYE_D8vweTrPDZIcrsWiLf8adBpcU2EtIWynIIjWByzBuu3SLivfovRlXtlUdMvL0_eP5XSCZo19AHbd69bwgQcDN1vcxRglWsso6rhV6a7ZubW6YlP2nVcqf8uDJVKMVdyqZmVgg2M9h0SMZ-VaGkCBHGkUOcnF7OJiO1ZzGAkowwJqUmAm8M3YjkFzw5Qr_gl_ihzFoD1PKuAUp7ViT-xuIIIIO3FgapAQw70bEtuaKqH_D3gVk9iPcIWSahF6OWAhQUF7q5nMUj8mj2xet62_zRUyfZ8EjuQqDBqRxP0ONVm6nR8gedNVDefz1TjJApryxbuMF1ktTASebM64nHeG77jC7fVbvKBdkOFuoki0vp96UuVoPmXc0IPpwTiCy-txMrj5ck_JooTf8VxN_xBmcJuk8wPXVTdJEtr0QU8r7If0MYnhRGPbqCr8piuF3kXcYy994Dq4Fznap9l0Nz0KK07ttipku1l03eZiO6O1-X_PNDyES9rerUnx9XjP4pgW4oMvEoLaRNfs9fF3s4egwHFrk-Zm-TbUrIQ80m10JlZpAqUkI6BffbFXJlHn3OBCl27K-Oj7A7XVgL%26display%3Dpage">micro courses</a>&nbsp;</li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1"><a href="https://www.ifac.org/knowledge-gateway/ethics/publications/exploring-iesba-code-focus-technology#:~:text=Exploring%20the%20IESBA%20Code%20%2D%20A,Code%20to%20technology%2Drelated%20matters.">Exploring the IESBA Code - A Focus on Technology guide</a></li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1"><a href="https://www.ethicsboard.org/publications/final-pronouncement-technology-related-revisions-code">IESBA&rsquo;s Technology-related Revisions to the Code</a></li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1"><a href="https://www.iaasb.org/publications/international-standard-auditing-220-revised-quality-management-audit-financial-statements">IAASB ISA 220 (Revised),&nbsp;Quality Management for an Audit of Financial Statements</a></li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1"><a href="https://www.iaasb.org/publications/isa-315-revised-2019-identifying-and-assessing-risks-material-misstatement">IAASB ISA 315 (Revised),&nbsp;Identifying and Assessing Risks of Material Misstatements</a></li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1"><a href="https://www.iaasb.org/publications/international-standard-quality-management-isqm-1-quality-management-firms-perform-audits-or-reviews">International Standard on Quality Management (ISQM) 1</a>&nbsp;</li>
</ul>

‘Small Firm, Big Impact’ is the podcast small and medium sized practices need right now. The latest series is full of factual and practical content from experts, giving chartered accountants, the up-to-date information they need to do their jobs. Each episode Chartered Accountants ANZ Public Affairs Manager Gillian Bowen will pick the brains of a range of people across the profession including CA ANZ experts as well as guests who know a thing or two about public practice.

‘Small Firm, Big Impact’ is the podcast small and medium sized practices need right now. The latest series is full of factual and practical content from experts, giving chartered accountants, the up-to-date information they need to do their jobs. Each episode Chartered Accountants ANZ Public Affairs Manager <a href="https://www.linkedin.com/in/gillian-bowen-7b310215b/" aria-label="Link Gillian Bowen">Gillian Bowen</a> will pick the brains of a range of people across the profession including CA ANZ experts as well as guests who know a thing or two about public practice.

Giving Chartered Accountants, the up-to-date information they need to do their jobs.

Small Firm, Big Impact

Small Firm, Big Impact is our long-form podcast exploring the biggest ideas, challenges, and opportunities reshaping smaller accounting firms across Australia and New Zealand. 

Hosted by Lisa Lintern from CA ANZ External Affairs, each episode dives into the leadership perspectives, strategic decisions, and real-world stories that help smaller firms stay future-ready in a rapidly changing environment. 

Whether it’s innovation, practice growth, technology, client expectations, or the evolving role of the practitioner, these conversations give you context, clarity, and inspiration to lead with confidence. 

For quick regulatory updates and time-sensitive news, explore our companion podcast, Small Firm, Big Impact Express. 

 

Disclaimer: The opinions and statements expressed in this podcast are provided for general information only and are not intended to be legal, professional or financial advice, nor do they reflect the opinions of Chartered Accountants ANZ. To the fullest extent permitted by law, Chartered Accountants ANZ is not liable for any statement or opinion, or for any error or omission in this podcast, nor is it liable for any direct, indirect, special or consequential losses or damages of any kind, or loss of profit, loss or corruption of data, business interruption or indirect costs, arising out of or in connection with this podcast or the information contained in it, whether such loss or damage arises in contract, negligence, tort, under statute, or otherwise.

Small Firm, Big Impact is our long-form podcast exploring the biggest ideas, challenges, and opportunities reshaping smaller accounting firms across Australia and New Zealand.&nbsp;
Hosted by Lisa Lintern from CA ANZ External Affairs, each episode dives into the leadership perspectives, strategic decisions, and real-world stories that help smaller firms stay future-ready in a rapidly changing environment.&nbsp;
Whether&nbsp;it&rsquo;s&nbsp;innovation, practice growth, technology, client expectations, or the evolving role of the practitioner, these conversations give you context, clarity, and inspiration to lead with confidence.&nbsp;
For quick regulatory updates and time-sensitive news, explore our companion podcast,&nbsp;Small Firm, Big Impact Express.&nbsp;
&nbsp;
Disclaimer: The opinions and statements expressed in this podcast are provided for general information only and are not intended to be legal, professional or financial advice, nor do they reflect the opinions of Chartered Accountants ANZ. To the fullest extent permitted by law, Chartered Accountants ANZ is not liable for any statement or opinion, or for any error or omission in this podcast, nor is it liable for any direct, indirect, special or consequential losses or damages of any kind, or loss of profit, loss or corruption of data, business interruption or indirect costs, arising out of or in connection with this podcast or the information contained in it, whether such loss or damage arises in contract, negligence, tort, under statute, or otherwise.

Audit Innovation: tech-driven opportunities for smaller firms

https://api.omny.fm/orgs/a34d9ae1-e217-41ad-8f3d-aae30005ee78/clips/ed0e7c70-585c-4367-a8f6-b2d10058c8b6/transcript

Transcript