The last 12 months have been challenging, especially in the Education Sector. We’ve been assisting Education Sector organisations navigate these challenges, including:
- Assisting clients in dealing with the financial implications of the COVID-19 crisis,
- Providing advice in relation to the pandemic related government incentives, including JobKeeper and CashFlow Boost,
- Payroll reviews: in light of the highly publicised ‘wage theft’ cases, we have been undertaking payroll reviews, including, data analytics testings, review of odd payments, compliance with awards, etc.
- VRQA reviews: we have undertaken a number forecast reviews which is a requirement for VRQA reviews.
- Internal controls in a pandemic: we have been reviewing and consulting for organisations.
- Providing advice on the application of new accounting standards.
- Management accounts: we have assisted a number of organisations in developing streamlined, meaningful management reports.
- Fringe benefits: we continue to assist clients in not-for-profit taxation compliance including fringe benefits.
- Policies and procedures implementation: we have assisted a number of clients in reviewing their policies and procedures including developing a conflict of interest framework.
- Fixed assets maintenance: review of fixed asset policy and recommending approach to maintaining the register.
- Undertaking grant acquittals.
- Accounting assistance: monthly and year end accounting and reconciliation, preparation of budgets and cashflow forecasts, development of professional, efficiently developed management accounts and accounting package implementation and training.
- Risk Management Framework reviews.
- Advice and reviews on Cyber challenges, including: cyber attacks, invoice email scams, government grant scams, ransomware attacks, viruses, policy and procedure development, government responses etc,
Our audits are designed to provide your board with confidence over the accuracy of the annual financial report, the adequacy of your internal controls and advice in relation to meeting your governance obligations. We undertake fully electronic audits embracing advanced data interrogation techniques that enable to use our expertise in the interpretation of variances, exceptions and matters requiring skill and judgement. We undertake external and internal audit engagements for a number of clients in the Education Sector.
Many government departments and other funders require an independent audit of funding provided. We provide tailored grant acquittal services to meet the funder’s requirements.
Business Advisory and Accounting Assistance:
We have a dedicated team with significant experience in the Education Sector. We undertake various services including: monthly and year end accounting and reconciliation, preparation of budgets and cashflow forecasts, development of professional, efficiently developed management accounts and accounting package training.
Murray Nicholls leads our Remuneration Services team. Murray is a specialist in various areas of remuneration, including fringe benefits, salary packaging and taxation planning, and provides advice to a number of clients in the education sector.
We would be please to talk with you about how our services can benefit your organisation.