We provide an independent opinion on our client’s financial and non-financial statements, as well as giving important insights and added value as auditors.
For over 50 years, our team has specialised in providing audit and assurance services to large private companies and foreign-owned subsidiaries. Providing a highly personalised service, we ensure our clients obtain maximum value from their audits. With a Director-led approach, our highly experienced teams focus on understanding our clients’ business and addressing the key risks impacting the audit, as well as identifying key areas where we can add value. While large companies are required to have their financial statements audited on an annual basis, other companies do not have to shy away from this process.
We believe the benefits of an audit extends beyond compliance and ‘ticking-the-box’. Some of the key benefits that external audit provides includes:
- Identification of errors and reduced risk of fraud: the audit process includes testing of transactions and analysis of data which can detect errors and reduce the risk of fraudulent transactions in financial information.
- Internal control effectiveness: auditors are required to assess the key internal controls in the business and report on control deficiencies.
- Acceptability and transparency of financial statements: an audit provides greater assurance to users of financial information in potential sale of the business as well as borrowing funds from banks.
- Improvement of financial literacy and education of the business owners and management: the audit process involves discussions and other means of communication with management and the business owners.
In addition to the above, the Accru Audit and Assurance team look into additional areas where value can be added to our clients’ business. Some of the value-add aspects of our audits include advice and guidance on:
- Cashflow management
- Budgeting and forecasting
- Debt covenants
- Creditor payment cycles
- Debtor invoicing and collection cycles
- Adequacy of strategic plans
- High level risk management and governance
- Advice on technological and innovative ideas within the industry
- Analysis of key drivers in the business including margin analysis, key expenses and investigation of anomalies over time
If you do require an audit, we would love the opportunity to understand your business! Contact our Audit Specialists today on (03) 9835 8200.
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