Auditing and reviews are a process of gathering information on, and assessing the accuracy of your accounting systems, and performance reports / financial statements. We provide assurance services to charities, incorporated societies, childcare centres and small to medium size for profit entities.
We understand that every business is different with its own risks and governance requirements. We provide a variety of services, including financial statements audit, review and agreed upon procedures.
Affordable and Quality Audit & Assurance Services for your organisation.
Audits are planned and performed in a way that minimises risks of material misstatements, such that the financial statements are presented in compliance with the relevant statutory requirements.
We ensure the stakeholders of the organisation can trust the quality of the financial statements.
An audit must be done according to the “International Audit Standards of NZ” issued by the External Reporting Board (XRB). An audit gains a higher level of assurance that the financial reporting is materially correct.
The audit process does all the work done in a review, PLUS the external confirming of balance sheet figures, and testing the accounting systems used to compile the income & expenses transactions, by validating a sample of transactions to their source documents and authorisation processes.
It is designed to result in a positive opinion which essentially states that based on the work performed the financial statements comply with generally accepted accounting practice and give a true and fair view.
A review is designed to provide a negative assurance report giving only a moderate level of assurance to readers on the reliability of the financial information. The report essentially states that nothing has come to the reviewer’s attention to indicate that the financial information does not give a true and fair view.
Review engagements are designed as a limited review of financial statements. Therefore, the risk of misstatements, omissions or incorrect disclosures is considerably greater than with an audit.
Procedures are primarily based on inquiry and analytical review.
In an agreed upon procedures engagement, we agree with our client to perform specific procedures. These procedures are not designed to support an expression of any opinion.
Our report is restricted to the party requesting that the procedures be performed, and that party must form their own conclusions from the procedures performed and the factual findings reported.
We can cater to your review, audit and agreed upon procedure requirements.