Australia’s audit requirements in brief
The Australian Securities and Investments Commission (ASIC) is Australia’s corporate and financial markets regulator. Australian law requires companies operating in Australia to prepare and lodge financial reports with ASIC if they meet two of the following conditions (as at June 2019):
- Over $25m consolidated revenue for the year*
- Over $12.5m consolidated gross assets at year end*
- Over 50 employees at year end (full time equivalents)*
*Thresholds subject to change
It is also compulsory for companies listed on the stock exchange, public companies, registered schemes and some smaller companies to prepare and lodge audited financial reports in Australia. Audited financial reports also offer international businesses in Australia many other benefits.
Our audit services for Australian subsidiaries of foreign owned businesses
Accru Melbourne audit services meet the highest national and international standards. Our audit approach adds value to any type of business but is particularly valuable for foreign-owned subsidiaries in Australia, where our experience and insights provide greater efficiencies, cost savings and practical ideas for improving internal controls and business systems.
We are skilled and experienced in Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), and individual country specific standards such as HGB (Germany).
Our audit and audit-related consulting services include:
- Statutory audits – Audit of annual and consolidated financial statements, and special purpose audits
- Voluntary audits – Audit of operational processes and internal control systems
- Financial Reporting – Preparation of annual and consolidated financial reports
- Fraud prevention & forensic investigation
- Corporate governance, auditing and regulatory matters
- Due diligence for mergers, acquisitions & business sales.
Accru Melbourne international business auditors
Our audit partners are typically also Registered Company Auditors, Registered Tax Agents and Registered Self-Managed Superannuation Fund Auditors.
We provide an independent opinion on financial and non-financial statements, as well as giving important insights as auditors.
Our business advisors focus on providing professional, practical and timely advice to help business owners reach their financial goals.
Our specialist lending service can help you find a home or business loan which best suit your needs and could offer interest savings!
We can help you make sense of this heavily regulated and complex area to ensure you are well-positioned for retirement.
Whether your personal or business tax, we can ensure you are always up to date with the ever-changing and complex world of taxation.
We provide you with a holistic plan considering all your financial affairs – investments, superannuation, tax, retirement and estate planning.