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Financial Report Audit

 

Our external audit approach consists of a number of stages: to address business risk; the effectiveness of internal controls; contract compliance and financial reporting.

We have developed and refined this approach through our experience in auditing a broad range of NFP organisations.

We recognise the importance of managing and monitoring your programs, services and reporting requirements. That is why our focus is to provide you with clear communication in order to make the audit process as efficient as possible.

Financial and Reporting Risk

Our audit methodology has been developed and is continually refined to reflect changes within the regulatory and operating environment of the sector. Our approach is tailored to you,  focusing on material risks within your organisation such as: 

  • Regulatory Compliance and Governance
  • Delegation policies and procurement controls
  • Liquidity risk and diversification of revenue sources
  • Budget preparation and management of funds for specific projects
  • HR Management including recruitment, contracting and management of employee entitlements
  • Revenue Recognition for each of your organisations services including any obligations for unspent funds
  • Cost determination and allocation between services including divisions within your organisation, group services or individual package services
  • Contract Management including tendering for new business, monitoring contract outcomes and compliance with reporting requirements

Our audit and external accounting services deliver:

  • Special purpose audit reports
  • Specialist advice on accounting standard interpretation as required
  • Annual financial reports in accordance with the Reduced Disclosure Requirements
  • Routine consultation with your financial team regarding any industry specific developments
  • Presentation of our findings to the Finance or Audit & Risk Committee and the Board of Directors
  • Valuable reports to Directors and Management addressing the scope of our audit and other observations
  • Audit reports and opinions in accordance with Australian Auditing Standards and the requirements of the Australian Charities and Not For Profit Commission Act 2012

We are dedicated to working collaboratively with you during the auditing process and throughout our ongoing management and support. Our outcomes are delivered professionally with no surprises, offering you the peace of mind that our team have covered all aspects of your organisations audit.