Auditing is most commonly associated with regulatory compliance and financial reporting transparency. There are many other cases where audit services can benefit the business or its stakeholders and are carried out voluntarily. Brown Auditing Services offers a variety of audit services in New South Wales, from forensic accounting and external audits to internal control assessments.

Overview of Different Auditing Services

Business audit services aim to improve compliance, risk assessment and business practices. Getting accurate, reliable financial information through an external audit is helpful when working towards specific goals according to a particular timeline, such as expanding to new locations or publicly listing your company.

Forensic accounting services, meanwhile, can pinpoint specific problems, errors, inconsistencies and risks that may be impacting your business. Internal control assessments examine the efficiency and functionality of your financial policies and processes to improve accuracy, security and compliance. The aim of all of these services is to improve business risk mitigation and financial reporting practices so you have a clearer, more insightful picture of how your business is performing.

Industries Served by Brown Auditing Services

Brown Auditing Services help a wide range of clientele including not-for-profit organisations, aged care facilities, health care providers, sporting clubs, real estate agencies and small businesses. We specialise in catering to the unique needs of each business based on their size, industry, challenges and specific goals.

Our audit and control services help decision makers plan for big expenses and improve business risk mitigation. This reduces the risk of money management issues by facilitating a good understanding of the business’s financial position. This also helps detect and prevent fraudulent activity, with increased scrutiny reducing the risk of internal bad actors taking advantage of unorganised, messy finances.

Situations Requiring Specialised Audits

All public businesses must be audited annually, while private businesses are legally required to be audited once they reach a specific threshold of revenue, assets and number of employees. There are other cases, however, where an audit may be required or strongly encouraged, such as:

  • Applying for a grant – An audit is sometimes required to verify the financial figures you provide when applying for a government grant.
  • Seeking a loan – Certain lenders may also require an audit before providing financing to businesses so they can ensure they repay their debts.
  • Raising capital – If you’re looking to attract investment into your company, an audit boosts the credibility, reliability and appeal of a business as an investment proposal, and is often used to convince investors to participate in business ventures.
  • Mergers and acquisitions – Potential business buyers and partners often want to see accurate, impartial financial reporting transparency to inform their purchase decision.
  • Publicly listing your business – When planning to become a publicly-traded company by offering an initial public offering (IPO), you first need to be audited so potential investors can access accurate, transparent financial information on your business
  • Regulatory investigations and suspected financial irregularities – An audit may also be required if a regulatory body suspects fraud, significant financial mismanagement or poor financial integrity in business reporting.

Even when it is not required by law, regular audits are a good business practice, helping to build confidence among directors, managers, employees, customers, suppliers and other stakeholders.

CTA: Contact Us for Audit and Control Services in New South Wales
Improve your financial integrity in business with Brown Auditing Services. We’ll help boost the accuracy and reliability of your financial records so you’re better placed to grow and thrive. For services in NSW, call 0428 661 200 or contact us online.