Financial Statements (Company) Audits 

According to the Australian Securities and Investment Commission (ASIC), a company (other than a small proprietary company), registered scheme (managed investment scheme) or disclosing entity (a body that holds enhanced disclosure securities) must have its annual financial report audited.


An audit is the examination of the financial report of an organisation - as presented in the annual report - by someone independent of that organisation.

The financial report includes a balance sheet, an income statement, a statement of changes in equity, a cash flow statement, and notes comprising a summary of significant accounting policies and other explanatory notes.

The purpose of an audit is to form a view on whether the information presented in the financial report, taken as a whole, reflects the financial position of the organisation at a given date, for example:

Self-Managed Super Funds (SMSF) 


Self-Managed Super Funds (SMSF) audits are mandatory in Australia and must be conducted by an auditor who is registered with the Australian Securities and Investments Commission (ASIC).


This auditor must be independent (i.e. not have any financial interest in the SMSF, nor have any personal or business relationships with fund members or trustees). An SMSF auditor is responsible for analysing a fund’s financial statements and assessing its compliance with superannuation law. They must report any non-compliance issues to all fund trustees and the ATO. We appreciate trustees are very conscious of keeping compliance costs to a minimum as they erode SMSFs investment returns.

We have developed a very efficient audit methodology whereby we can deliver a thorough audit service at a very low cost.
Our mainstream audit fee per SMSF is generally between $350 to $450 plus GST.

Trust Accounts Audit 


These are regulatory compliance based audits whereby certain financial, transactional and governance issues pursuant to the operation and conduct of the trust account are tested and reported on.

We provide trust account audits for the following:


  • Real Estate Agents

  •  Settlement Agents

  • Legal Practitioners

  • Accountants

  • Motor Vehicle Dealers Consignment Sales

  • Private Client Trust Accounts

Each type of trust account audit has a very different reporting framework and we remain conscious of working with our clients to ensure we maintain a co-operative learning environment so as the audit is viewed as a consultative process with a positive value add outcome. 

We adopt a very efficient audit methodology and reporting process. You will find our fee structure very competitive.

AFSL Audit Australian Financial Service Licensees


AFSL Audit Australian Financial Service Licensees have annual and continuous reporting obligations to the Australian Securities and Investments Commission (ASIC).

The audit the financial statements of AFS licence holders is conducted to ensure they comply with Australian Accounting Standards and we also report on the operating effectiveness of specified internal processes and control of required accounts. This includes also a review ongoing calculations, assumptions and projections prepared to ensure the AFSL has sufficient financial resources to comply with the conditions of the licence We have specialist knowledge in-house to ensure our audits are conducted efficiently, focus on risks of material misstatements, areas of significant breaches and follow guidance statement GS003 issued by the Auditing and Assurance Standards Board.

The AFSL clients include, but are not limited to, responsible entities, mortgage and insurance brokers and other entities who provide financial advice to wholesale and/or retail clients. /in addition this extend to the audit registered managed investment schemes to ensure their reporting obligations under the Corporations Act are met.

Our audit fees are very cost effective given our size and extensive knowledge base.

Compliance and Other Assurance 

This types of audits are to provide assurance over specific areas, transactions, compliance plans to ensure clients meet their external obligations and provide a level of assurance to those charged with governance.

An independent assessment of processes and controls are conducted and report back to the board or management any shortcomings identified and provide practical, timely recommendations for improvement.

Examples of some of the services include:


  • Grant acquittal audits;

  • Australian Financial Service Licence FS71 audits;

  • Management Investment Schemes – Compliance Plans;

  • Variable outgoing audits under the Commercial Tenancy (Retail Shops) Agreement Act;

  • Agreed upon procedure audits;

  • Registered Training Organisation audits; and

  • Pre-acquisition audits.

  • Review Based Engagements Review based engagements are specifically catered for under the auditing guidelines and provide for "review findings", as opposed to an audit opinion.


Review engagements are not as onerous as audit based engagements, hence they do not supply the level of comfort that an audit opinion provides.

The issue of a "prospectus" by a public company wishing to perform an Initial Public Offering (IPO) of securities to raise capital will require an Investigating Accountants Report (IAR).


Contact us: Phone: 1300 226 033 
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