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The Australian Securities & Investments Commission has asked 17 entities to explain the accounting treatments of 20 matters. This follows a review of the 31 December 2017 financial reports of 90 listed and other public-interest entities.
Many prospectuses for IPOs and other public offerings include financial information for a number of years;
for instance a prospectus issued now might include “actual” balance sheets and profit and loss accounts for the years ended 31 December 2016, 2017 and 2018, and maybe forecasts for the year ending 31 December 2019.
How will an audit improve your business and its sale value?
If your succession planning has identified that your business needs to be "sale ready", an independent, quality audit is a vital investment that could return significant dividends come sale time.