Registered Auditors for Auditing Firms Company
Companies are required to produce an annual audit report based on their financial standing. At the end of the period, companies' financial statements must be submitted to the user after proper examination by the auditor.
This process can be taxing for any company - big or small. While others find company audits taxing and demanding, at Super Audits, we make sure to prepare your audits for you.
When Do You Need a Financial Audit?
When a Business is Considerably Big
In accordance with the Corporation Act 2001, an approved and registered company is required by Australian law to appoint a registered company auditor if they meet at least two of the below criteria:
- The consolidated revenue for the financial year of the company and the entities it controls (if any) is $25 million, or any other amount prescribed by the regulations for the purposes of paragraph or more.
- The value of the consolidated gross assets at the end of the financial year of the company and the entities it controls (if any) is $12.5 million, or any other amount prescribed by the regulations for the purposes of paragraph or more.
- The company and the entities it controls (if any) have 50, or any other number prescribed by the regulations for the purposes of a paragraph, or more employees at the end of the financial year.
When You Want to Get a Grant or Investment
Many companies seek investments. In this case, an independent audit is necessary to show confidence and trust in your proposal.
When companies and charities want to secure a government grant, they may need to undergo an audit. This is to ensure and provide proof that the figures are correct and accurate – meeting the standards and requirements.
When You Wish to Secure a Loan
Getting a loan usually requires a lot of documents to produce, one of which is an audit report. Lenders are required to have an audit of their financial statements to ensure that they are capable to repay the loan. This protects both the lenders and lending companies as it verifies the figures and checks data accuracy.
When You Plan to Sell Your Business
Transparency is as vital as any feature of your business when your planning to sell it. Possible buyers want to know your current financial data, so it’s nice to have your statements audited since it adds value to your business.
These sets of guidelines are standards set by the Australian Securities and Investments Commission (ASIC) to ensure that companies are compliant to Australian laws.
Registered Company Auditors in Australia
Need help with an audit?
Super Audits has a team of highly skilled and recommended registered company auditors with 20+ years’ experience in the field. We prepare our audits in a professional and timely manner. We can complete and return audits to you within 5 business days.
Our service is tailoredspecifically for your needs. We take pride in offering low-cost services to our clients. We will provide you with a pre-determined quote and at the commencement of our work. If the total cost is more than what we quoted, then Super Audits will wear the additional cost.