Company Audits

At GPS, we pride ourselves on being independent registered company auditors. Our staff have the ability to undertake a wide range of statutory audits which are required pursuant to the Corporations Act and other specific legislation.
Our team can provide valuable additional services, including preparing statutory financial statements, particularly where they are complex and need to be ASIC compliant.

GPS can quickly advise if a company audit or review is required and what is the appropriate level of reporting for any client given all the aspects which may need to be considered.

Large Reporting Entities

A large reporting entity is one of sufficient size based on asset holdings, turnover or the number of employees. If your company passes any two of the current means tests, then your company will be required to lodge audited financial statements with ASIC on an annual basis. This is one service our company auditors specialise in.

In some instances other proprietary companies may require an audit, for instance where they are controlled by a foreign company. In such cases their shareholders or financiers may be required to submit an audit for their benefit only.

Companies Limited by Guarantee

A company limited by guarantee has limited liability to their members and are restricted to a specified value for each member. This structure is often used by not-for-profit, or public interest organisations and will often have three levels of reporting. The first is where the entity does not require an audit at all. The second is where an assurance review is required. And lastly, one where a comprehensive audit is required. This will depend on the structure of a company and its way of transacting among other things. For further explanation on this, please call for advice on what may be required in your situation.

Statutory Financial Reporting

Any level of statutory reporting can be complex and time consuming. The obligation to be compliant with the Australian Accounting and Reporting Standards is paramount. We understand that getting this right can be critical when it is required. The company auditors at GPS use a dedicated and modern audit reporting framework called “Caseware “. This helps us to ensure compliance and makes it easier to be certain any audit meets the prescribed disclosures.
If you need any type of audit for your business or for that of your clients, all you need to do is contact us for a confidential, no obligation discussion about what is required. Our auditors on the Sunshine Coast have worked with all types of businesses. We are very experienced in preparing statutory audits and can help make the process simpler for the businesses we work with.

Why Use GPS for your Company Audits?

• We specialise in delivering audits. It is imperative for accountants, financial advisers, and management to ensure their audit is being performed by an independent and quality assured organisation that they can trust. As an independent firm we do not provide tax, accounting, and financial planning services. Our team is concerned only with conducting a professional audit within the agreed-upon turnaround times.

• Our audit service is a partnership to support your organisation’s governance. We value relationships and we seek to engage with different levels of your team to provide the best results with minimum stress and disruption.

• We tailor our approach to meet the specific needs of each of our clients. We pride ourselves on ensuring our senior team members play an active and hands-on role on every audit engagement, offering their experience and insight to deliver more than just an audit report.

• We utilise “Caseware”, a state-of-the-art paperless audit software, for our audit and financial reporting needs which allows for a timely audit whilst ensuring we remain fully compliant with ever changing accounting and auditing standards. This provides us with the ability to perform audit work onsite or remotely, depending on an individual client’s preferences.

• We strongly believe in maintaining communication, so we make ourselves available to answer any questions you have during the year at no extra cost. We are out client’s trusted advisers – completely independent and invested in their success.

• An efficient risk-based audit approach performed at cost competitive price. Our specialist and highly trained team of professionals are completely dedicated to the effective use of streamlined audit processes to ensure savings are passed onto clients, while ensuring that we provide protection from compliance risks.

• Australian Owned and Based. No work is delivered offshore.