Not For Profit & Charity Audits

We provide the not-for-profit sector with specialised tax advice, financial and management accounting and audit services, to ensure that your organisation gains full access to all the applicable tax concessions.

Charities and income tax-exempt funds require endorsement from the ATO to access most concessions. BUT, if your non-profit organisation is taxable, you need to know how to report, pay and budget for its tax obligations.

We have audited a wide range of entities such as schools and colleges, church and parish activities, community assistance based organisations. Additional assistance to these entities includes system evaluation, financial statement preparation for both statutory and non-statutory reporting and accounting advice where required.

Our auditors consist of senior staff, all of whom are well trained and have the experience to be able to carry out the audit function and associated services efficiently and provide timely advice on all accounting and audit issues. We guarantee you will not be dealing with fresh-faced university graduates.

Annual Audit Requirements

The accounts of any person or organisation that holds authority to conduct a fundraising appeal must be audited annually by a registered company auditor.

Each financial year a charitable organisation must prepare the following documentation:

  • Financial Statements incorporation a statement of income and expenditure
  • Information and notes to the financial statements
  • A declaration by the president or principal officer of the governing body
  • An Auditor's Report that includes details from an audit of the financial statements

We will advise on what records must you make sure your company keeps, your obligations, legislative requirements and explain whether the need to prepare financial reports may be a requirement of receiving government grants.

Depending on the size and structure of your Charitable Organisation there will be varying levels of qualifications needed by your selected Auditor.

We conduct the audit in a streamlined process that simplifies your effort needed in meeting your obligations. During an audit, we check the financial reports of the charitable organisation to give the members an opinion as to whether the financial reports are true and fair. This helps the members to know what all the assets and liabilities are, and what has happened to the money of the charitable organisation during the last twelve months. The information obtained from the audit can be used to make and evaluate decisions about scarce resources.

Essentially, the auditor will need a copy of all your financial statements for the past 12 months, including:

  • Director's Declaration
  • Statement of Financial Performance
  • Statement of Financial Position
  • Statement of Cash Flows
  • Notes to Financial Statements

We recommend you have this information already prepared, and then meet with us before the audit is commenced.