Assurance and Auditing for NSW Sporting Clubs
Sports play a significant role across all regions. These groups are formed with the purpose of attracting like-minded people and building community. Whether you are running a small sporting club, bowling club, golf club or a local RSL, Brown Auditing Services are on-hand to provide auditing advice and services in Hunter, Manning and Central Coast.
A sports club constitution may require a periodic financial audit and review. This has to do with the fact that local sporting clubs are typically funded by the local community and that community wants to be reassured that the funds are being handled appropriately. Thorough, regular audits ensure peace of mind and confidence that a group is being managed in a compliant and transparent manner.
Importance of a Financial Audit for a Sporting Club
Auditing allows for better future planning and assures members, staff, patrons, directors and other stakeholders that the club’s internal financial reporting processes are well-handled and free of fraudulent or erroneous behaviour. Financial statement audits can identify any omissions or weaknesses in financial reporting, systems or controls so we can provide valuable insights and advice to improve the allocation and management of club finance.
Regulations can also stipulate strict assurance and audit requirements, particularly if a sporting club involves a component of gambling or generates a certain level of income. Our services are offered at a cost that is appropriate for your organisation. We can add value without breaking the bank, ensuring compliance and allowing you more time to focus on the day-to-day running of the sporting club.
How We Help
Brown Auditing Services tailor the design of our audit program and activities based on your sporting club’s scope of activities, specific requirements and existing internal controls. Our aim is to find the most efficient and effective approach in:
- Keeping records compliant and up to date
- Collecting and recording members fees and general income
- Recording and categorising payment of club accounts
- Management of club finance and bank accounts including access permissions
- Financial statement audits
- Theft detection and cash flow checks
- Checking stock control records
- Reviewing wage records
- Accounting for loans and advances
- Creating a financial management report
- Accurately recording and categorising takings from memberships, donations, functions, bar trading and other revenue streams
Our comprehensive auditing and accounting services are custom designed to ensure your club follows specific procedures or practices adopted in the club policies. We can also conduct audits and generate any financial management report required by legislation or by authorities such as the Department of Gaming and Racing or the Liquor Administration Board depending on your sporting club’s activities.
Auditing Services for Sporting Groups in New South Wales
At Brown Auditing Services, we believe in empowering sporting groups to achieve effective management by providing a rich variety of audit driven insights that helps plan for future growth, new strategies and periods of adversity. For a no obligation consultation in the Central Coast, Maitland, Orange, Hunter, Taree, Rutherford, Tamworth and Dubbo. Call us on +61 428 661 200 or contact us online.