Brisbane Auditors

Auditors Australia - Specialist Brisbane Auditors

Our team of Brisbane auditors are passionate about providing assurance services to the Queensland market. Our niche offering is designed to increase and maintain stakeholder confidence in an organisations financial reporting framework and annual reports. Our firm acts as the intermediary between your accountants and your wider stakeholders whether they be members, financial institutions, venture capatilists or government regulators.

Our Brisbane auditors have decades of experience providing audit solutions to businesses and not for profit organisations throughout Australia. Our firm is founded on the twin pillars of technical excellence and cutting edge digital technologies allowing us to offer additional value to our clients coupled with market leading audit quality. Our internal dynamic risk assesment platform has been created on top of internationally accredited audit software which allows our audit team to more accurately assess and evaluate risk points and subsequently areas requiring audit focus. This audit analysis is done via a combination of computer algorithms to reduce human bias while seperately allowing users to input judgements based on auditor expeirence in order to retain human value while reducing the potential for error.

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If you’re interested in learning more about our auditing services please reach out for a confidential quote and one of our friendly team will be in touch

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07 3112 8076

477 Boundary Street
Spring Hill QLD 4000

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    Why Choose Us

    Our firm is accredited by the Australian Securities and Investment Commission (ASIC) as Registered Company Auditors licensed to deliver audit and assurance services throughout the Australian marketplace. Our Brisbane auditors have focussed their careers on this niche and exciting area of accounting with an approach based on ensuring there is value in everything we do. Via the use of cloud technologies, we have automated many of the mundane parts of auditing allowing our experienced team to focus on delivering value to our clients and ensuring audits can be completed promptly without sacrificing audit quality.

    Company Auditor

    Completing company audits, whether for private or public companies, involves applying professional scepticism while reviewing the governance, financial records, internal processes, and frameworks in order to conclude that the books are free of material misstatement. In Australia only ASIC licensed Registered Company Auditors may complete audits of private or public companies as it is a specialist field requiring years of training. Our team has seen the inner working of hundreds if not thousands of companies over the years and have a deep understanding of the corporate world. We provide a value to the board beyond the mere audit report working with the board to provide useful insights to improve the organisations risk management, internal controls, and reporting framework.

    We can also collaborate with clients on pre audit advisory helping organisations to ensure they have robust procedures in place prior to going down a full audit pathway. This still includes a financial analysis of the reporting, controls and systems of your business along with a list of recommendations to improve but without the final signature and a stated level of assurance. This can be done for companies regardless of their size or location adding true value with cost effective recommendations and best practice tips and tricks.

    AFSL Auditor – Financial Licensee Audits

    For clients who operate under an Australian Financial Services License regulated by ASIC they must deliver audited financial reports to the regulator per the Corporations Act 2001 (Cth). Along with the audited financial reports the submission to ASIC must include the lodgement of the FS70 and FS71 forms within three or four months from the end of the fiscal year. Over the last couple of years ASIC has been very lenient allowing extensions to this deadline although there is little available information from the regulator as to whether these extensions will continue into the future or perhaps become a permanent part of the new reporting framework to reduce the administrative burden on financial licensees.

    Our AFSL auditors commence the audit by examining the financial statements to ensure that they meet the new standards required by the regulator and sample a number of transactions via the source documents held in the companies bookkeeping software such as Xero. This process will seek to identify any misstatements as to performance or position caused by incorrectly allocated entries. From there the balances of the assets and liabilities will be tested for possible impairment. The reports evaluated will include the profit and loss, statement of equity and balance sheet. We are also required to assess the quarterly cashflow statements which must cover the entire financial year plus three months after the close of the financial year in order to check for any solvency or liquidity challenges.

    As part of the AFSL audit we will also review the mandated compliance paperwork of the financial licensee such as the risk management procedures, financial services guide, manuals, and other items. For more information on the financial licensee audit process checkout the AFSL Audits page.

    Not for Profit Auditor

    The Australian Charities and Not-for-profits Commission (ACNC) is the government regulator that imposes the various levels of assurance on organisations in this important space. These assurance levels are designed to be practical by limiting the red tape for smaller organisations while still allowing the community to have confidence in the sector.

    For not for profits under $250,000 of turnover no audit or review is required by the regulator although it may be required under their funding agreements or via their constitution. For these micro-organisations they are still required to submit an Annual Information Statement to the regulator which is generally prepared by their bookkeeper. Keep in mind if audited acquittals are required by a funding body it may lead to full audited financials even at this micro level, so it is important to examine the detail of your organisation before determining the best pathway forward.

    For mid level organisations with up to one million of turnover they have the option via the regulator to either complete a review of their finances or a full audit. The review is a cheaper, audit light, option which requires our not for profit auditor to provide a negative assurance which states that there is no evidence discovered that would indicate noncompliance. This is obviously a much lower bar for our not for profit auditors to meet which thus reduces the compliance costs of the audit. Note these reviews are rarely accepted by funding bodies, banks, or for acquittals so they may or may not be appropriate for organisations of this size despite being compliant with the regulator.

    For larger organisations exceeding one million in annual turnover they are required by the regulator to submit fully audited financial statements each year. This report is phrased with a positive assurance being that the report in all material aspects, meets the requirements of the Australian Charities and Not-for-profits Commission Act 2012 (Cth) and the associated legislation and regulations. This positive assurance requires a full audit which means the work takes longer and is thus more expensive and will require an examination of your governance, financial framework, and internal procedures.

    SMSF Auditor

    We provide fully digital audits of Self Managed Super Funds by using the reports directly from your Class Super or BGL360 in order to complete audits quickly and effectively. Our team also provides ongoing technical support to the SMSF Accountant involved with the SMSF Audit to ensure that queries are dealt with during the financial year as opposed to building up to the end. Our team prides itself on quality audits and are happy to deal with unique funds and those that are not cookie cutter. Please note that we do not deal with funds that are completed using paper records or those being prepared without the input of an SMSF Accountant as it does not fit within our risk parameters. There is also a commercial reality that paper-based audits are incredibly expensive to deliver without sacrificing audit quality which generally leads to an unhappy relationship between the trustee and auditor with neither side benefiting.

    All our digital audits are completed on a fixed fee basis and can commonly be completed within a few working days unless the fund has a high level of complexity or serious breaches have occurred requiring a contravention report under the Superannuation Industry Supervision Act 1993 (Cth).

     Incorporated Association Audits

    Associations governed by the Office of Fair Trading legislation, the Associations Incorporation Act 1981 (QLD), are split into three tiers being creatively named the small, medium and large tiers. Small tiers cover incorporated associations where the value of both the current assets and revenue is under $20,000 for the fiscal year. For organisations of this size, they are not required to be audited by the regulator unless they are required to under a separate Act such as the Collections Act 1966 (QLD) for organisations that conduct public fundraising or the Gaming Machine Act 1991 if you are a club that has gaming machines, such as pokies. In circumstances where no audit is required then you just submit your financials with a verification by the president or treasurer of the organised saying that “The association’s financial records show the association keeps adequate financial records to correctly record and explain transactions, and to enable a true and fair financial statement to be prepared.”

    Medium tier incorporated associations are those with either revenue or current assets above $20,000 but below $100,000. These associations have the choice to either have their books and records audited or merely verified by a certified accountant. The verification process is far cheaper and lower touch than a full audit but does not bring with it the same level of assurance.

    For Large tier organisations with either turnover or current assets over $100,000 they are required to complete a full audit prior to the submission of the financial statements.

    Regardless of the tier of association if they are registered with the Australian Charities and Not-for-profits Commission there is an exemption meaning the association is only required to lodge with the ACNC and not also with the Office of Fair Trading. For more information about this exemption the Office of Fair Trading has some useful information on their website.

    We are here to help!

    Interested in learning more about how our Brisbane Auditors can help your business or organisation? Give us a call on (07) 3112 8076 or get in touch online and one of our friendly team will be happy to answer your questions.