Articles

For Business

We present articles here that are of interest to people who run a business; either for themselves or someone else.

Also look at some of our e-newsletters that will keep you current with the latest news.

 

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  • 5th Mar 2013

    The audit process - Systems and control

    Where we determine that the internal control framework is sufficient to mitigate audit risk efficiently we document, assess and test internal controls. This intervention seeks to establish the...
  • 5th Mar 2013

    Conduct of an audit

    At Saward Dawson we undertake our audits in accordance with the requirements of the Australian Auditing Standards. The standard set out the requirements, processes and reporting to be followed in the...
  • 5th Mar 2013

    The audit process - Substantive

    Work is performed on balances and transactions that make up the financial report to ensure that the financial report is true and fair. The procedures used are determined after the planning, systems...
  • 5th Mar 2013

    The audit process

    The audit process includes the assessment of risk associated with the information being audited and the execution of various audit procedures including: review and testing of internal controls...
  • 5th Mar 2013

    The audit process - Reporting

    During the reporting stage of the audit we will communicate with both management and the governance members. Audit Guide - The audit process
  • 5th Mar 2013

    Who can do an audit?

    At Saward Dawson, all audits are undertaken by registered company auditors. Most statutory audits require a registered company auditor to undertake the work. Statutory audits include audits of public...
  • 5th Mar 2013

    Does my organisation need an audit?

    Many organisations are required to have their financial statements audited. The requirement to be audited may come from any of the following: governing rules, constitution or trust deed regulators...
  • 5th Mar 2013

    Audit independence

    Saward Dawson complies with the APES 110 Code of Ethics for Professional Accountants which requires auditors to assess any threats to independence when accepting or performing an audit engagement...
  • 5th Mar 2013

    Audit - Companies Limited by Guarantee

    Small companies with revenue less than $250,000 and not a deductible gift recipient An audit is only required if : Directed by a member Directed by ASIC Required in the companies constitution...
  • 5th Mar 2013

    Audit - Private Companies

    Small proprietary companies , which satisfy two of the following: consolidated revenue less than $25,000,000 consolidated gross assets less than $12,500,000 employ less than 50 employees Do not...
  • 5th Mar 2013

    Audit - Associations

    Incorporated Associations Victoria (other than charities) Tier 1 Total revenue less than $250,000 (or if declared by Registrar) No review or audit of financial statements required unless voted by...
  • 5th Mar 2013

    The paperwork police are coming

    The Fair Work Ombudsman has been cracking down on bad record keeping and payroll compliance.
  • 5th Mar 2013

    Audit - Charities and not-for-profit organisations

    Small charities Total revenue less than $250,000 No review or audit of financial statements required unless required by governing documents or directed to by a member or external party. Medium...
  • 5th Mar 2013

    Audit levels of assurance

    Audit - Review - Agreed Upon Procedures Understanding and managing the reporting requirements of your organisation can be a confusing process. Audits offer the highest level of assurance and the best...
  • 5th Mar 2013

    Audit - Reasonable Assurance

    An audit will provide an organisation with an opinion on the true and fair nature of the financial statements. An audit involves: review and testing of internal controls physical verification of...
  • 5th Mar 2013

    Review - Limited Assurance

    A review provides an organisation with a report on anything that has come to the attention that would indicate a material misstatement. The objective of a review differs significantly from that of an...
  • 5th Mar 2013

    Agreed Upon Procedures - No assurance

    An Agreed Upon Procedure provides a report on factual findings, discovered based on the scope of the engagement. No opinion is provided on the findings. Agreed upon procedure engagements vary...
  • 27th Feb 2013

    Victorian Fire Services Levy

    Victorian businesses and property owners will be affected by a new system of charging the, already existing, Fire Services Levy.
  • 16th Feb 2013

    Business value - Cash flow and finance

    All businesses need initial and ongoing funding to build and support growth. Do you understand how your business is currently funded? What is your reliance on internal/external funding? Understand...
  • 16th Feb 2013

    Business value - Business drivers

    Ensure your team understands drivers that determine success

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