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Auditing, and reviews are a process of gathering information on, and assessing the accuracy of your accounting systems, and Performance reports.
We only provide assurances services to charities and not for profit organisations.

Audit

An audit must be done according to the “International Audit Standards of NZ” issued by the External Reporting Board, (XRB). An audit gains a higher level of assurance that the financial reporting is materially correct.

Read more about our Audit Services

Review

The XRB has also issued standards for reviews in their ISRE NZ 2400 Review of Historical Financial Statements Performed by an Assurance Practitioner.

Read more about our Review Services

In common, a review and an audit must ascertain…

  • Accounting Policies

    The financial report has been prepared according to the stated accounting policies.

  • Financial Management

    Those charged with governance have undertaken prudent financial management.

  • Accounting Controls

    There is a system of accounting, with appropriate accounting controls.

When deciding between an AUDIT or REVIEW it is important to consider…

  • 1.

    What does our constitution / deed, or membership require?

  • 2.

    What do our major funders, government or non-government, require?

  • 3.

    What is the extent of separation between the governance, and the management, of an organization, that gives minimal or no ability for the majority of the governance members, to have an “internal” audit role, in verifying the financial reporting, they are relying on. The point being that the greater the separation of financial verification, from the governing members, then the greater value in an audit, compared to a review. If most of the governance are involved in the financial transaction authorizing and processing, then a review maybe more relevant.