Be it an ATO audit, a trust audit, a QBCC audit, a bank assurance letter or a not for profit audit…
We at Forsyths have the tools to thoroughly look into your business and ensure that you are meeting the strict guidelines you are required to meet and give you advice about where you are lacking in controls or where improvements could be made to better align your business with industry expectations.
An audit is an investigation into your business to try to give the auditor confidence that the financial statements are free from material misstatement and free from fraudulent activity. If the reports are to be relied upon to make management decisions then managers need to feel confident that the controls they have implemented are upheld and are working. Performing an audit can identify weaknesses and strengths and help management build on these strengths and try to improve their weaknesses.
Identifying that an entity are not taking risks and are giving staff the right security and access levels and that procedures are being followed means that the business can operate more efficiently and is safer from the potential breaches in their contracts and obligations.
Any business can request an audit is done on their books, Forsyths do it as a matter of fact when doing compliance work by ensuring that your business is coding transactions correctly and not trying to claim expenses which are personal in nature. Sometimes you could question why we ask you all those questions but we have your best interests at heart as no-one needs an ATO audit which costs you in time, stress and money.