We focus on providing audit and assurance services to small to medium sized entities.
Audit
An audit provides positive assurance that the financial information is free from material misstatement.
The language in the opinion is positive "in our opinion, the financial information is materially free of misstatement".
Audits are conducted according to the audit standards issued by the New Zealand Auditing and Assurance Standards Board of the External Reporting Board (XRB).
Review
A review provides negative assurance that the financial information is free from material misstatement.
The language of the opinion is "nothing has come to our attention to suggest the information presented is not materially free from misstatement".
Reviews are conducted under the Review Standards issued by the XRB.
Other Assurance
These engagements are typically giving assurance over information other than financial statements. For example, Ministry of Education funding audits and real estate trust account audits.
They are conducted under Assurance Standards issued by the XRB.
Early Learning
With experience in auditing early learning centres, both private and community-owned, as well as experience on the governing body of an early learning centre, we are well versed in the challenges the sector faces day to day. We are therefore perfectly placed to perform an efficient audit and make the process a valuable one for your Centre.
Audit
If your Centre is a registered charity and has expenditure over $1.1m p.a. for the last two years then you are required to have an audit performed by a Qualified Auditor in accordance with XRB audit standards. Over $550k p.a. and you can choose between audit and review.
Non-charity Centres may still opt in to an audit for the assurance it provides your Board. If private Centres are companies with more than 10 shareholders you will need an audit under the Companies Act 1993.
Funding audit
Centres who receive funding from other course may require an audit as a condition of funding.
This type of audit is performed in accordance with the XRB's assurance standards.
Review
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If your Centre is a registered charity and your expenditure is between $550k and $1.1m p.a. for the last two years then you have the choice of an audit or a review performed by a Qualified Auditor in accordance with XRB audit or review standards.
Privately-owned Centres may still opt in to an audit or review for the assurance it provides your Board.
Other assurance
Centres may have other information they require comfort over and assurance engagements can be designed to meet most needs. These are performed according to XRB's assurance standards.
Real Estate
With extensive experience operating a trust account, as well as having audited them, we couldn't be in a better position to provide this service to you.
Real Estate Trust Account Audits
The Real Estate Agents Act 2008 and the Real Estate Agents (Audit) Regulations 2009 require all agencies who hold client funds to have their trust account audited by a Qualified Auditor.
Body Corporate audits and reviews
There is no statutory requirement for a body corporate to have an audit or review however many choose to in order to provide comfort to your stakeholders that funds are being responsibly and prudently managed.
Not-For-Profit
We are a great choice for not-for-profits looking for a cost-effective and efficient audit.
Registered charities - Medium/Large
Eco-Friendly Design
If your organisation is a registered charity and has expenditure over $1.1m p.a. for the last two years then you are required to have an audit performed by a Qualified Auditor in accordance with XRB audit standards.
If your expenditure is between $550k and $1.1m p.a. for the last two years than you may choose either an audit or a review.
Incorporated Societies
Some Incorporated Societies are registered charities in which case the above applies. However if your organisation is not a registered charity then check your Rules/Constitution to see whether you need an audit or review.
Registered charities - Small
24/7 Support
If your organisation is below the $550k expenditure p.a. threshold then you are not required by law to have an audit or review but check your Rules/Constitution as this may have a requirement in it.
You may of course opt in to an audit or review if your stakeholders or Board require the additional assurance it provides.
Funding audits
It is not uncommon for funders to require an independent audit of how grant funds were spent. Give us a call to discuss your need.
Small - Medium Business
If your business requires an audit by statute, by constitution or by choice, get in touch with us for a competitively priced, personal audit experience.
Companies Act 1993
Companies with more than 10 shareholders require an audit unless they have followed the opt-out process allowed for in the Companies Act 1993.
Companies with fewer than 10 shareholders can opt in to an audit by following a similar process.
Further details here.
Constitution
Your organisation's constitution may require an audit or review.
How to contact us
Hours of business
Mon - Thurs: 9am - 3pm