Audit

Purpose

Where appropriate, it is a requirement of the Corporations Act 2001, that an “external audit be independent allowing auditors to form an opinion on the truth and fairness of the financial statements presented by the client”.

Following recent corporate collapses and the demise of some global accounting firms, there has been growing concern surrounding the independence of auditors. As a result major accounting firms have either sold or floated their consulting practices to focus predominately on providing assurance services, like external audit. BTO not only supports this trend, but also believes in principle that independence is vital in providing any professional services to clients. As such BTO has made a strategic and conscious decision NOT to provide assurance services to clients. In other words BTO cannot and should not audit its own work or advice.

Intended results

To facilitate and manage the external audit process.

Benefits include:

• Reduce your involvement and effort during the audit process
• Improve the efficiency of assurance activities
• Reduce audit risk
• Support and ensure conformity with Auditing Standards
• Assist ‘those charged with of governance’ discharge their responsibility for the preparation and presentation of the financial report

BTO can help you with...

Audit

• with the tendering process
• appoint a registered auditor
• determine the scope of the external audit process
• establish an internal audit function to review, test and monitor internal controls
• form an audit committee
• develop an audit committee charter

Call us on 0425 210 249 or complete our contact form to discuss your needs.