Australia

QUEENSLAND AUDIT & ASSURANCE SERVICES

With an increasingly strict and frequently changing regulatory environment, there is a growing demand for organisations to provide transparent and reliable financial information to stakeholders.

We have extensive experience offering auditing and assurance services to a diverse range of organisations in the private, public and not-for-profit sectors.

We customise our service to the size and nature of your organisation, aligning audit objectives to your business goals and inherent risks. This means more efficient service delivery and ensures we focus on the critical areas of risk that could have a material impact on your business and its financial results.

You can have confidence that our regulatory audit service is conducted with a key focus on quality assurance and is fully compliant with professional independence requirements. We are committed to the continuous professional development of our audit and assurance team and our technical staff.

Our competitive and transparent pricing structures guarantee a high proportion of director and manager time on each engagement to ensure value for money.

We understand the importance of delivering high quality, prompt service and appreciate the need to deliver to budgets and deadlines.

BOOK YOUR FREE 1 HOUR CONSULTATION WITH OUR AUDIT SPECIALISTS

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Some of the services we provide are:

Tick External audit of financial reports
Tick Financial reporting advice and/or preparation of financial reports
Tick Internal audit services
Tick Trust account audits
Tick Agreed upon procedures engagements
Tick Australian Financial Services Licence audit
Tick External audit of grant funding acquittals
Tick Forensic Accounting and Special Investigations

Latest videos

11 March 2022

Accounting for E&E Assets in Australia – Part 1

Audit Director, Matthew Monaghan explains what Exploration and Evaluation Assets means when securing a mining tenement, and how it relates to the AASB 6 Exploration for and Evaluation of Mineral Resources.

11 March 2022

Accounting for E&E Assets in Australia – Part 2

Audit Principal, Syeon Koh will talk about how Exploration and Evaluation Assets can be measured. Syeon further mentions how an entity can choose between the cost model or the revaluation model after initial recognition.

11 March 2022

Accounting for E&E Assets in Australia – Part 3

Audit Director, Matthew Monaghan discusses how impairment relates to Exploration and Evaluation Assets and when an Exploration Asset must be tested for impairment.This is performed according to the AASB 136 impairment of assets.

11 March 2022

Accounting for E&E Assets in Australia – Part 4

Syeon Koh explains the steps and processes of how impairment testing should be done when dealing with Exploration and Evaluation Assets.

11 March 2022

Accounting for E&E Assets in Australia – Part 5

Syeon Koh talks about the difficulties faced when calculating the recoverable amount for impairment testing. Syeon explains the difficulties of the fair value less cost of disposal method.

Related insights

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Impairment testing for exploration and evaluation assets and the difficulties

Like most non-current assets, consideration of impairment is an important part of holding onto exploration and evaluation assets. Such an asset should be assessed for impairment when- circumstances indicate that the carrying amount of the asset may exceed its recoverable amount.

Insights_Audit_tractors mining

What are ‘Exploration and Evaluation Assets’ and how are they measured?

If you have secured mining tenement, completed the prospecting phases, and you’re now ready to begin exploration while subsequently wondering how to account for the costs, then you need to read Australian Accounting Standards Board’s (AASB) Accounting Standard 6: Exploration for and Evaluation of Mineral Resources.

Removal of Special Purpose Financial Statements for certain For-Profit entities

In March 2020, the Australian Accounting Standards Board approved the issue of AASB 2020-2  Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities and AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-profit Tier 2 Entities.

Not-for-profits entities and Australian charities and Not-for-profits Commission (ACNC)

A not-for-profit entity, as its name suggests, is an organisation that does not operate for the profit, personal gain or other benefit of particular people (for example, its members, the people who manage the entity or their friends or relatives). An organisation can still be not-for-profit if it simply provides a benefit…

The purpose of an audit: an explanation for those that require, or should seek, an audit

This article explains why organisations require audits, identify the legislation that enacts those audits, and detail why you should consider getting an audit, even if it isn’t required by law.

Welcome to Audit Pod

A podcast about audit & assurance, financial reporting and internal controls to keep your business compliant and protected. Be informed about latest changes in financial reporting, stay on top of current best practices, and learn how to improve your business processes to create efficiencies and value.

HOW CAN WE HELP?

External audit of financial reports

Financial reporting advice and/or preparation of financial reports

Internal audit services

Trust account audits

Get in touch with our Queensland Audit Specialists to book your free one hour consultation.

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