Contact Ashfords today on (03) 9551 2822

AUDIT & ASSURANCE

Ashfords Audit and Assurance team provides high quality and independent audit services tailored to your organisation’s needs. Our expert assessment and analysis of your organisation's processes, procedures and compliance may uncover value in places you may never have considered.


Financial Statements Audit

Our team of experienced audit professionals have the skill sets to identify and address areas of risk, to enhance the creditability of financial statements. Our proven methodology enables us to work closely with clients to meet their statutory obligations.

Beyond forming an opinion based on information contained in financial statements, Ashfords add further value by identifying inefficient controls or processes. Being independent allows us to directly correspond with management in order to best understand the rationale behind certain decisions impacting relevant financial statements.

Internal Control

Agreed-upon procedures refer to a standard that a business entity or client outlines when it hires an external third party to perform an audit on a specific financial test or operational process.

A significant, yet under-utilised, element of agreed-upon procedures relates to the use of data mining techniques on financial information as a means of ensuring adherence to internal controls and policies.

Data mining is the process of discovering patterns in data. Ashfords is able to review a business’ underlying financial system in order to spot insightful data trends and patterns.

Fraud detection is another growing use case in data mining. Various techniques and tools can be deployed in order to assist with the identification of suspicious transactions, unusual relationships, and irregular trends.

Due Diligence 

Financial due diligence refers to a business process designed to identify potential issues, risks or weaknesses within a business prior to entering into a formal sale and purchase agreement.

The scope of each financial due diligence’s is highly contextual. When Ashfords undertakes financial due diligence for a client, it generally involves reviewing things like historical and current financial information, working capital requirements, forecasted financial results, employee entitlement provisions, and tax implications – just to name some.

Most often, our team performs financial due diligence for business owners who are considering an acquisition or planning to sell. We have experience with financial due diligence in other areas, also. These include when a client wishes to assess the merits of disposing of (what they believe to be) an underperforming business division.

SMSF Audits

If you run a self-managed superannuation fund (SMSF), you must appoint an auditor and ensure your SMSF is audited annually by an ASIC-approved auditor. Ashfords has a dedicated team of independent SMSF auditors who perform SMSF audits in accordance with Australian Accounting Standards and the Superannuation Industry Supervision Act (1993). Our internally developed process ensure audits are completed in both an effective and efficient manner.

Special Purpose Engagements

In addition to statutory audit requirements, we provide the following audit and assurance services: