Audit & Assurance
Independent audit and assurance services compliant with ASIC requirements and the Corporations Act 2001.
Audit & Assurance Services
Independent audit and assurance services conducted in accordance with ASIC requirements and the Corporations Act 2001.
Who Needs an Audit?
- Public Companies: Must have an annual audit under the Corporations Act
- Large Proprietary Companies: Must audit if they meet 2 of 3 criteria: revenue $50M+, assets $25M+, 100+ employees
- Small Proprietary Companies: May be directed to audit by shareholders or ASIC
- Self-Managed Super Funds: Must arrange annual audit by ATO-approved auditor
- Trusts and Charities: May require audit per their governing rules or funding agreements
Our Audit Services
- Financial Statement Audit: Independent examination of financial reports to express an opinion on whether they give a true and fair view
- Compliance Audit: Review of compliance with specific regulations, loan covenants, or contractual requirements
- Performance Audit: Assessment of operational efficiency and effectiveness
- Due Diligence: Financial investigation for acquisitions, mergers, or business sales
- Internal Audit: Review of internal controls and risk management processes
- SMSF Audit: Annual compliance audit for self-managed super funds
Audit Standards
Our audits comply with:
- Australian Auditing Standards (ASAs)
- Corporations Act 2001 requirements
- ASIC Regulatory Guide 34 ??? Auditor obligations: Reporting to ASIC
- Australian Accounting Standards (AASBs) for financial reporting
Auditor Independence
ASIC requires strict auditor independence. Auditors must not have any financial interest in the entity being audited and must rotate lead audit partners for public company audits.