Governance in Action

External Audits: A Director’s Guide from Planning to Sign-off

External audits are an important source of independent assurance – but they do not relieve directors of responsibility for the financial report. This practical guide explains the external audit process from a director’s governance perspective, from auditor selection and planning through to year-end testing, written representations and the final audit opinion. It examines where boards and Audit Committees should engage, how to approach auditor independence and non-audit services, why uncorrected audit differences deserve attention, and the particular care required when legal professional privilege is involved. It also considers auditors’ statutory reporting obligations to ASIC, the growing use of AI in audit, sustainability assurance and forthcoming changes to Australian auditing standards. Above all, it explains why directors must continue to bring their own informed and enquiring judgement to financial reporting rather than treating external audit as a substitute for board oversight.

09/20/2026

Keeping Your Governance Records in Shape: Why Periodic Health Checks Matter

Good governance leaves a record. But when did your organisation last examine whether its governance records are complete, accurate, current, secure and genuinely fit for purpose? Governance records extend well beyond financial books and records. They include statutory registers, board and committee records, constitutions and charters, policies, director appointment and induction materials, regulatory lodgements, workplans, delegations and the systems used to create, approve, store, retrieve, retain and ultimately destroy them. A periodic independent governance health check can provide a fresh perspective on whether these records and processes remain compliant, consistent and effective. Properly scoped, such a review complements rather than duplicates the work of the company secretary, internal audit and external audit. It can also identify opportunities to simplify processes, strengthen assurance, improve information security and make responsible use of AI. This article considers what a governance health check should cover, how often one might be undertaken and why good governance hygiene increasingly requires attention to the complete lifecycle of an organisation's records.

09/19/2026

Australia's Regulatory Reform Agenda: How Boards and Executives Can Prioritise What Matters

Australian businesses are confronting an unusually crowded regulatory reform agenda. Climate reporting, privacy, AML/CTF, APRA governance reform, the fifth edition of the ASX Corporate Governance Principles, modern slavery, whistleblowing, cyber security and other reforms are competing for the same governance, legal, risk, technology and assurance resources. The challenge is therefore no longer simply identifying what regulation applies. Boards and executives increasingly need to govern regulatory change itself as an enterprise portfolio—prioritising what is certain, material and urgent, identifying dependencies, managing implementation capacity and avoiding unnecessary duplication.

09/14/2026

Related Articles

External Audits: A Director’s Guide from Planning to Sign-off

Keeping Your Governance Records in Shape: Why Periodic Health Checks Matter

Australia's Regulatory Reform Agenda: How Boards and Executives Can Prioritise What Matters