Statutory External Audits & Reviews
Sinclair Wilson’s Audit & Assurance team has been providing Statutory, External Audit and Review Services for many years. We understand that our clients can find this process challenging and a balancing act between operating their business, organisation or charity, and finding the time to work with us so that the Audit can be completed in an efficient and cost-effective manner. The challenges appear to have increased as greater compliance and regulatory requirements demands are placed on business and the not-for-profit sectors.
Our Audit team seek to work with the client to ensure their Statutory Audit or Review is undertaken in such a way that it works best for them, both from a timing perspective and so that each client has a tailored Audit approach which fits best with how they do business or operate their organisation, whilst ensuring they meet the external challenges of both statutory and internal reporting.
We work with business operators or those charged with governance, and with management to ensure that the planning of the Audit is undertaken in such a way as to ensure that both the client and the Audit team understand critical aspects of the engagement:
- The scope of the Audit is outlined in our Audit/Review Engagement Letter and includes the expectations of the client and the Auditor
- The Audit approach and methodology is detailed in our Audit Strategy and plan and discussed prior to commencement of the formal Audit, and agreed upon timetabling of the Audit attendances and completion date are communicated with the client
- Management are communicated with during the Audit process in regard to progress
- A meeting or verbal communication followed by written communication to management by way of our Audit Management Letter details our key findings and recommendations for improvement or enhanced financial systems at the completion of every engagement we undertake, and is a process we see as critical to an effective Audit, and seeks to provide a value-added service to our client.
Our Audit team at Sinclair Wilson understands that confidence and trust in your Auditor will be a key consideration when choosing an Audit provider. Our Audit team is passionate about it’s role in facilitating an Audit that is as stress-free as possible for the client whilst still achieving the statutory outcomes required. We are very aware of the confidentiality around your business or organsiation, and undertake our work to ensure that your business or organisation can be confident of our professionalism, discretion, efficiency and effectiveness.
Our lead Audit Partner and head of the Audit Division is Principal, Felicity Melican, a Chartered Accountant and SMSF Auditor Specialist with 30 years’ experience in all facets of Audit and Assurance, across the full breadth of industry and entity type. Felicity is a strong proponent and advocate for our region with Board and Governance roles held over many years and across a number of sectors including education, health, aged care and philanthropy. Felicity champions a culture in our Audit and Assurance division which is hard to match. When combined with our firm’s continuous in-house and external training program and access to technology allowing our Auditors to work from any location and exchange large volumes of data with assured security and ease for our clients, our Audit team is well placed to meet any Audit requirements, be it be required by statute, by the directors, the members, shareholders or third party.
Felicity would be happy to have a conversation with you at any time and see how Sinclair Wilson may assist with your Audit or Review requirements. We understand that these requirements differ between industries, sectors and entity types, but we can work with you to map out the engagement that would be the most efficient, cost effective and value-added approach for you whilst still delivering the outcomes you need.