Auditing Services for Small Businesses in NSW

Brown Auditing Services provides business audit services across Hunter, Manning and the Central Coast designed to help small to medium sized businesses (SMBs) improve internal controls, compliance and decision-making.

Audit Requirements

An annual company audit is required if an entity meets two of the following three criteria at the end of the financial year:

  • Consolidated revenue of $50 million and more
  • Consolidated gross assets of $25 million and more
  • Employs 100 or more staff

While many SMBs don’t meet the thresholds for mandatory auditing, a voluntary company audit provides a range of benefits.

Benefits of Auditing a Business

A business audit provides greater visibility and offers insights into how to better identify and benefit from opportunities for growth while minimising risks. Our experienced team of business auditors can help you improve internal controls, reducing the risk of business failure, improving efficiencies and giving your SMB a competitive edge.

Regularly auditing a business can help business owners plan for major expenses and evaluate ongoing financial risks. This reduces the chance of money management issues arising with a strong understanding of your finances. Audits also help detect and prevent fraudulent activity, reducing the risk of bad actors taking advantage of unorganised business finances.

Future-Proofing Your SMB

Auditing a business provides valuable insights that can inform the future growth of your business, especially If you have a particular timeline you’re working towards, such as expanding business operations. It’s also a good idea to audit a business on a regular basis if you plan to sell at some stage. This ensures potential buyers can be confident in your financial data.

By proving your company’s financial claims are fair and legal, you can also assure investors and other stakeholders that your business is in a healthy financial position. This can be essential for start-ups and small businesses looking to raise capital.

Loans and Grant Acquittals

A company audit is often required when an SMB is applying for a grant or a loan. This is to ensure financial statements are accurate and impartial to reduce risks for lenders or to ensure grants are appropriately awarded.

Business Auditors in New South Wales

Get in touch with Brown Auditing Services for more information about audit requirements and how we can help your SMB. We help clients in a range of industries across Dubbo, Tamworth, Hunter, Orange, Maitland, Rutherford, Taree and the Central Coast.

Schedule a no obligation consultation today by calling +61 428 661 200 or contact us online.