Audit and Assurance Services in New South Wales
Brown Auditing Services offer audit and assurance services to a variety of different size and type organisations throughout the Hunter, Manning, Central Coast, and Western Coast. Audit and assurance involve evaluating and reporting upon an organisation’s financial records. This process is used to verify the accuracy of accounting records in accordance with the Australian Accounting Standards as well as identify any problem areas that need to be rectified.
What is an Audit?
Auditing provides your stakeholders with a reliable and independent source of financial information to assess the performance of your organisation, its management and those charged with governance. These stakeholders can include regulators, governments, creditors, lenders, employees, analysts, prospective shareholders, customers and the wider community.
Auditing verifies and enhances the credibility of financial reports and records, enabling stakeholders to assess and make confident decisions such as investing, divesting, lending or contracting with an entity. Depending on the size and type of organisation, an audit may be required annually by law, in certain circumstances (such as applying for grants) or conducted voluntarily. At Brown Auditing Services, our auditors consider what information users of the audit report will need and tailor our focus and approach accordingly.
What is Assurance?
An audit ultimately involves providing an opinion giving reasonable assurance on a financial report. Assurance refers to the expression of a conclusion by the auditor regarding the level of confidence in the accuracy of information provided in an audit report. There are different levels of assurance that result in different types of conclusions, depending on the type of work performed:
- Reasonable assurance – A guarantee of reasonable assurance through conducting a complete audit of financial statements and gathering sufficient evidence to support an auditor’s conclusion.
- Limited assurance – This may include a review of financial statements with less detailed procedures, based on an assessment of risk and materiality to support an auditor’s conclusion.
- No assurance – This can include preparing financial statements according to agreed-upon procedures on behalf of management with no conclusion provided.
Audit and Assurance Services in New South Wales
At Brown Auditing Services, we tailor our auditing and assurance services in accordance with the unique needs and regulatory requirements of each client. We can offer guidance on the appropriate approach for you, whether you’re charged with the governance of a private company, sporting club, trust, not-for-profit or charities.
We provide services across Maitland, Hunter, Rutherford, Orange, Tamworth, Dubbo, Taree and the Central Coast. We can provide more guidance on what is an audit, what is assurance and how we can help you. Book a no obligation consultation today by calling +61 428 661 200 or contact us online.