We audit unincorporated associations, incorporated associations, and trust accounts for real estate agents and legal practitioners. The latter is now known as External Examination and must be completed within two months of the 31st March for the Queensland Law Society. Real Estate audits for trust accounts must, under section 40 of the Agents Financial Administration Act 2014 be completed within four months of the close of the reporting period. Some Incorporated Associations do not need an external auditor.

We believe all Incorporated Associations should be audited by an external party to ensure that interested parties such as members, the committee, banks and financiers, regulatory bodies such as the Office of Fair Trading and the Australian Taxation Office and potential donors understand the financial situation of the Association. It is a protection for the stakeholders to ensure that the organisation’s funds are controlled and the assets protected. Don Crombie CPA can and will make recommendations for improvement with regard to internal controls, accounting, insurance etc. We are interested in minimising fraud although we cannot guarantee that fraud does not exist because of the test nature of the audit.

It is the Association’s responsibility to prepare accounts and we will ask your Committee to sign an Engagement Letter which sets out your responsibilities and ours. It is important that we are independent and are seen to be independent. The Engagement Letter clarifies our roles in the audit procedures. A Representation Letter from you to us advising that you have supplied all relevant documentation is required during the audit. We will also ask questions regarding fraud and how you as a Committee minimise fraud.

Our audits are based on the requirements for CPA Australia and are designed to give you and other stakeholders assurance that your accounts are not seriously misstated.