Overview
Taxya holds registration as a company auditor, which means we can issue the opinion your board, regulator, bank or funder is asking for. We are not a referral service: the partner who scopes the engagement is the one who reviews the file and signs the report.
We work with entities that need assurance for a statutory reason and with those who want it for their own comfort — a new investor, a change of management, a grant acquittal, a trust account under a licensing condition.
Scope
Engagements we accept
- Proprietary companies
- Large proprietary companies required to lodge audited accounts with ASIC, and smaller companies audited under their constitution or a shareholder agreement.
- Public and listed entities
- Financial report audits under Chapter 2M of the Corporations Act.
- Schools and aged care
- Audits and acquittals for independent schools, early learning services and residential aged care providers.
- Trust accounts
- Solicitors’, conveyancers’, real estate agents’ and motor dealers’ trust accounts audited to the relevant licensing rules.
- Strata plans
- Owners corporation audits under the Strata Schemes Management Act.
- Charities and not-for-profits
- ACNC-registered charities, incorporated associations, foundations and clubs — see not-for-profit audits.
- Self-managed super funds
- Financial and compliance audits by an ASIC-approved SMSF auditor — see SMSF.
- Grant and funding acquittals
- Special purpose audits and agreed-upon-procedures reports for government and philanthropic funders.
Process
How the engagement runs
Scoping and risk assessment
We agree the framework, the reporting deadline and the areas where a material misstatement is actually plausible for your entity — before any testing starts.
Controls walkthrough
We trace real transactions through your systems to see how the controls behave in practice, not how the policy says they should.
Substantive testing
Sampling and analytical procedures sized to the risk we identified, with requests batched so your finance team isn’t interrupted for weeks.
Reporting and root cause
The opinion, plus a management letter that traces each finding back to the control or process that allowed it — so you know what to change, not just what went wrong.
Questions
Common questions
Does my proprietary company need an audit?
A proprietary company is ‘large’ — and must have its financial report audited and lodged — if it meets at least two of three tests for the financial year: consolidated revenue of $50 million or more, consolidated gross assets of $25 million or more, or 100 or more employees at year end. Companies below those thresholds are often still audited because a constitution, funder or shareholder agreement requires it.
How early should we appoint an auditor?
Earlier than most people expect. Fieldwork needs to sit between your accounts being finalised and your lodgement or AGM date, and an auditor appointed in the last fortnight before a deadline can rarely do the job properly. Talk to us as soon as your year-end is in sight.
Can you audit accounts you prepared?
No — and we won’t. Independence rules prohibit auditing a financial report we compiled. Where we already do your accounting, we’ll say so up front and help you appoint an independent auditor.
Also
Related services
Talk it through before you commit to anything.
Tell us the situation and the deadline. We'll tell you what's involved, what it costs and whether it's us you need.