We Do Audits
Click on any of the audit types below for more information. Platinum Audits just do audits. You can be confident that we have the skills, knowledge and resources to provide you with quality and bias-free audits.
Australian Financial Services Licencees (AFSL) have an obligation under Australian law for ensuring that they comply on an ongoing basis with the requirements of the Financial Services Reform (FSR) Act and the conditions specified in the licence. An audit of the AFS Licencee ensures that these obligations are being met, in addition to the requirements of the Corporations Act 2001 and the Australian Securities and Investment Commission (ASIC). We are able to provide an audit to licencees throughout Australia.
Not for Profit & Associations
Not for Profit Organisations
Not for profit organisations need to have audits conducted on their accounts to ensure that they have a true representation of their accounts presented to members. Requirements for an audit are set out in the organisation’s governing constitution. Entities can be Public Companies limited by guarantee, Private Companies, or State Registered Incorporated Associations. We have many years of experience in these types of audits.
Incorporated Associations are regulated by the Office of Fair Trading in Queensland, or the equivalent in other states. In Queensland, Incorporated Associations are divided into three tiers each with varying degrees of financial criteria and reporting requirements.
The financial statements must be verified to confirm that the financial records of the Association has book keeping processes in place. The financial records should reflect the Association’s ability to adequately record their income and expenditure and transactions with its assets and liabilities.
There are a variety of reasons why we offer remote audits. This service particularly suits small organisations or entities that are located in rural and regional areas, where it may be difficult to source an auditor with appropriate qualifications. It has also proved appealing to organisations with limited on-site space, or even larger organisations that work predominantly with electronically based documents. We work together with our clients to determine the audit service that best suits their requirements. If you would like more information about how to utilise this service in the future, please contact us.
The regulators of Self-Managed Super Funds (SMSF), the Australian Taxation Office (ATO) and Australian Securities and Investments Commission (ASIC), place great importance on the annual audit of the SMSF. The audit of these funds involves both financial and compliance components. The purpose of this audit is twofold. Firstly, to provide an independent report to the trustee confirming there are no material errors in the financial statements. Secondly, to confirm the fund has complied with the Superannuation Industry (Supervision) Act (SIS Act), by which they are regulated. The auditor is under strict requirements to report any SIS Act breaches that are identified to enable them to be resolved. We now have two ASIC registered auditors on our team to ensure all audits are conducted in accordance with ASIC guidelines.
Our SMSF Audit enables Accountants, Financial Planners and Administrators of SMSFs to obtain an audit opinion that is free from any actual or perceived bias, undue influence or pressure. This ensures compliance with the jointly issued Section 290 (formerly Professional Statement F1 – ‘Professional Independence’) within the Code of Professional Conduct. The Professional Statement F1 has been issued by CAANZ and CPA Australia to ensure the independence of members is achieved in all engagements that are undertaken by their members.