Audit
Large Companies
Audit of listed Public Companies
As Registered Company Auditors we can provide audit opinions for all reporting and disclosing public companies.
We have experience in the following sectors:
- Resource and base metals;
- Exploration and development;
- Property Developers;
- Funds Management;
- Retirement Villages; and
- Housing Sectors;
We provide an interactive audit service to our clients with written quotes provided up front.
Audit of Large Proprietary Companies
Special eligibility conditions apply to large proprietary companies whereby upon reaching certain thresholds triggers the requirement to issue an audit opinion to its shareholders.
Our main focus is to firstly carry out due diligence to ensure the company does in fact comply with the requirements which necessitates an audit.
From our experience we have been able to identify circumstances where the client entity does not require an audit where prima facia an audit appeared imminent.
Investigating Accountants Reports ("IAR") (Review Engagements)
Review based engagements are specifically catered for under the auditing guidelines and provide for a "review" opinion that is not as onerous as an audit opinion.
The issue of a "Prospectus" by a public company principally adopts the use of "Investigating Accountants Reports" when wishing to raise capital by the issue of securities.
We have significance experience in the resource industry.
Travel Agents Audits
Travel Agents are required to have both their financial statements and trust account(s) audited each year. The audit opinion must be submitted to the Travel Compensation Fund ("TCF") within the required three (3) months from year end.
In addition travel agents must submit a Certified Annual Financial Review.
The TCF will evaluate if you have complied with certain financial criteria.
These are:
- Trust Account(s):
- Working Capital:
- Net Capital:
- Net Tangible Assets:
To ensure the trust account(s) have been properly managed.
To ensure sufficient working capital reserves are maintained.
To ensure sufficient net capital limits have been maintained.
To ensure sufficient net tangible asset levels have been reached.
Travel agents audits are both financial and compliance based, hence specific audit scoping is required in the planning phase.
We provide you an upfront written fee quote prior to any audit field work commencing.
Trust Accounts
Real Estate Agents Trust Account Audit
As a service provider to this industry we dedicate audit staff to this area between November and April of each year.
Real Estate trust accounts have a 31 December year-end, therefore we use November and December to train our clients in their audit obligations as well as plan and scope our audit work so from January to March we can complete the audit function for all our clients on a timely basis and ensure lodgement of the necessary documents well before the deadline of 31 March.
For those clients having difficulties in meeting their reporting obligations by the 31 March deadline we communicate with the Supervisory Board to ensure our clients receive satisfactory extensions of time by which to lodge.
Legal Practitioner Trust Account Audit
These are compliance specific audits whereby certain financial, transactional and compliance issues pursuant to your trust accounts are tested and reported on. Again an area we specialize in. As with all compliance audits the scope of these audits is increasing placing more emphasis on the practitioner to ensure compliance.
Settlement Agents Trust Account Audit
Similar to real estate agents we audit settlement agents trust accounts, again with emphasis placed on planning and scoping of the audit so as the client receives a competitive fee structure and timely completion and lodgement of the necessary statutory documentation.
Superannuation and Financial Services
Self Managed Superannuation Fund ("SMSF") Audits
One of our speciality areas is the audit of SMSF. They are a special purpose financial report whereby the audit must address both the financial and compliance of the SMSF with the SIS Act.
As one of the dominant audit firms in Perth we audit over 500 SMSF.
We provide upfront written quotes and offer discounted fees for batches of SMSF that exceed 30.
Australian Financial Services Licence Holders ("AFSL")
We are experienced in providing audit opinions for Australian Financial Services Licence Holders. This is a growing industry sector which requires specialist audit knowledge, and specific document lodgement requirements.
We work with our clients in ensuring the strict disclosure time frame is met and we prepare and lodge the necessary ASIC lodgements for our clients.
Other Audits
Not for Profit Entity Audits
We do a large number and diversified range of not for profit entities who's audit requirements and obligations are particularly varied.
To maintain the efficiency of these type of audit engagements particular emphasis is placed on planning and scoping the audit engagement so as the audit opinion addresses the stakeholders and / or funders reporting requirements.
Goodwill Audits
Pre-acquisition audits are becoming common place when contemplating the acquisition of a business. It provides the purchaser peace of mind as to the validity and accuracy of the financial statements that are principally relied upon by the purchaser in their decision making process.
Again these audits rely specifically on accurate scoping so as the reporting stemming from the audit process, focuses on the critical areas requiring audit clarification.
Unions and Organization Audits
We have been involved with the audit of Union organizations for over 25 years, and have specialist knowledge on their specific reporting requirements and internal governance. We would be pleased to assist you in your audit and reporting obligations.
Agreed Upon Procedures Audits
This represents audit tailoring whereby the client (stakeholder) can become involved in the design of the factual findings report so as the particular needs and required outcomes of the audit are addressed.
This type of audit scenario is becoming more widely adopted as blanket Corporation Law based audits can be expensive and not focus on the area of concern. Please ask for further details at your convenience.