Vulture City - How our bankers got rich on swindles

the People's Choice Podcast this week is on accountants and ethics as a result of the Twitter poll that I conducted earlier this week. I cover some core ethical principles in the ethical standard and look at where some challenges may emerge during the upcoming inquiry into audit regulation.

Reviews and audits of risk management systems under APRA rules have been in the news but the documents that have been quoted have nothing to do with auditor independence. To ping accounting firms on those issues; well, there are other places to go. Try the accounting world's code of ethics ....

There is a lot of white noise around on auditor independence today and people are banging on about a topic I have spent 25 years building an expertise in. There are two possible solutions to the issue people point to in the NAB-Ernst & Young issue.

Tom Ravlic provides some insight into two instances where he got banned doing his job as a journalist back when he first started writing about the accounting world.

Three inquiries have been announced over the past couple of days. Tom talks about the three and flags some in depth analysis to come on the auditing sector.

ASIC reports that bankers have had to dish out $119.7 million in penance for the sins of their financial advisers and there is more to come ...

What can you expect from professional associations? Let Tom Ravlic FIPA FFA F Fin guide you through that maze in a series of podcasts. This episode provides a brief introduction to the conversation on what a professional body does and how they might impact on you. Tom will delve into more detail on professional bodies, compliance with professional education rules and disciplinary regimes in future podcasts so subscribe or keep an eye out for essential content!

Jeff Morris blew the whistle on the CBA's financial planning arm. He got the cold shoulder from the bank. The book, which has as detailed chapter on Jeff Morris' crusade, can be pre-ordered on the web sites of Dymocks, Booktopia and Book Depository amongst others.

It can be tough to understand what is happening in the finance space but you can start of dip your toe into the water by getting yourself informed.

The corporate regulator has recently meted out disciplinary action to a series of people involved in SMSF audits.