AUDIT AND ASSURANCE SERVICES
Assurance and Advisory
We are devoted to being transparent, ethical, and reliable audit and assurance advisors, and provide unwavering commitment to these values. As your trusted auditors, we play a crucial role in providing confidence to your stakeholders and reinforcing the integrity of your financial statements, reports, processes, and controls. By meticulously examining and evaluating your financial information, we ensure that it accurately reflects your organisation’s performance and financial position.
Our comprehensive range of financial accounting advisory services encompasses various aspects that are vital for maintaining the trust and credibility of your business.
Compliance Audits and Other Services
Our team of technical specialists help you navigate the changing compliance landscape with confidence. We provide independent verification and review of financials and other information you may need to report to regulators and other stakeholders.
Our team has extensive experience in providing assurance services over various compliance and regulatory frameworks. Examples of these frameworks and other compliance services include:
- Trust audits for accountants, lawyers and real estate agents
- Australian Financial Services Licence (AFSL) audit requirements
- Compliance plans such as for registered managed investment schemes
- Grant acquittals for local, state and federal government agencies as well as private benefactors
Our independent audits and reviews provide confidence to your stakeholders, strengthen systems and processes and protect the reputation of organisations. Our collaborative approach also ensures the process is efficient, seamless and adds value to your business.
We work with our clients to deliver non-statutory, specific purpose services that focus on the results arising from the performance of specified procedures, including:
- Performance of agreed-upon procedures
- Provision of comfort letters
- Accounting and financial reporting
- Expert witness reports.
Our audit and assurance team utilise our knowledge, experience and expertise to understand your business and develop solutions to suit your specific needs.
Financial Statement Preparation and Technical Accounting Advice
Financial reporting goes beyond compliance: it is the foundation of successful modern businesses. Detailed and accurate financial reporting gives you a clear picture of your business’ financial situation and provides reliable insights that can help you make better business decisions, meet your financial and statutory reporting obligations and gives investors, creditors and business leaders a clear understanding of your financial position.
Preparing financial reports can often be complex and with various reporting frameworks can sometimes be confusing. Let Bishop Collins financial accounting and advisory experts take the complexity and confusion off-the-table with our financial statement preparation services. Our financial accounting advisory services offer a systematic approach to your financial reporting needs. We will help you meet your statutory reporting obligations and give you an informative financial perspective of your business.
Our team also provides technical accounting advice on the application of Accounting Standards and the selection and adoption of accounting policies. Our team of financial reporting and auditing experts bring the best technical minds, technology and thinking to organisations across Australia. We take the time to understand your unique needs and will tailor a solution for the greatest benefit to your business. Our financial accounting advisory services cover all aspects of financial reporting within Australia, and globally, including legislated reporting requirements as well as generally accepted techniques. We will give you peace-of-mind regarding your financial reporting compliance.
Due Diligence and Transaction Services
Let’s face it: the decision to buy or sell a business is an important one, so it’s imperative these deals are executed after undertaking focused and effective due diligence. We understand that due diligence reduces the risks associated with a transaction by providing technical, financial and operational analysis to support strategic decisions.
Bishop Collins’ experienced team are highly regarded for our ‘no surprises’ approach to delivering tailored solutions to meet your specific transaction needs. Our experts are independent, experienced and commercially minded, and will deliver the information you need to make the right decisions.
- Offer transparency and trust as we work with you to ascertain the critical value drivers and risks associated with the transaction.
- Analyse data to identify historical and projected financial and operating trends, working capital considerations and the quality of earnings.
- Determine stable cash flows and project future results.
- Review the quality of record keeping and accounting systems underpinning the data.
- Assess the appropriateness of accounting policies and procedures, internal controls and potential liabilities that can impact valuation and negotiations.
- Utilise our experience to uncover opportunities and reduce surprises.
We provide transactional support services including:
- Acquisition due diligence
- Vendor due diligence
- Review of financial models
- Accounting and financial reporting
Bishop Collins can help you realise your strategic goals and protect your investment.
Our team of professionals can help you manage fraud risk by improving your control environment. We can help you detect when fraud has occurred, investigate alleged misconduct and quantify the financial impact of fraudulent activities.
Bishop Collins provides fraud investigation services which can be used by your organisation to investigate allegations of fraud and misconduct, explore legal recourse, and pursue litigation (and conviction) of offenders.
We work closely with our clients to provide fraud investigation and risk management services including establishing a fraud risk management framework, implementing fraud prevention and deterrence techniques, providing protected disclosure and whistleblower reporting avenues. We also provide assistance to regulatory bodies and law enforcement representatives in investigating and prosecuting alleged perpetrators of fraud and misconduct.
Technical accounting refers to the specialised knowledge and application of complex accounting principles, regulations, and standards to address intricate financial reporting issues and transactions. It involves interpreting and implementing accounting guidelines to ensure accurate and compliant financial statements.
Due diligence in accounting refers to the thorough investigation and examination of financial records, statements, and relevant documentation to assess their accuracy, completeness, and compliance with applicable laws and regulations. It involves conducting detailed analyses, verifying information, and identifying any potential risks or discrepancies. The objective of due diligence is to ensure transparency, reliability, and integrity in financial reporting and decision-making processes.
External accounting advisory provides specialised expertise, objective insights, and independent assessment, complementing the skills of internal accountants. They offer valuable perspectives, guidance on complex accounting issues, regulatory compliance, and strategic advice to enhance financial reporting, controls, risk management, and decision-making processes.
If any of the above apply to your business, contact Bishop Collins now and join our satisfied clients who already enjoy the benefits of our fully integrated bookkeeping service.
SEND A MESSAGE
Drop Us a Line
Please complete the contact form below with your enquiry, and we will respond as soon as possible.