RSM Australia

Audit and Assurance Services

Independent financial Audit and Assurance services play a critical role in creating and maintaining investor confidence in your business

Reliable information is the basic prerequisite for confidence in the value of an organisation; for the investor, the public and the organisation itself. A thorough independent audit of an organisation's financial report provides the basis for this confidence.

RSM have extensive experience offering auditing and assurance services to a diverse range of organisations in the private, public and non-profit sectors. But our Audit and Assurance team do more than deliver technically excellent auditing services. They know that to offer the best auditing solutions for your business, they need a thorough understanding of your individual requirements.

Our team take the time to develop in-depth knowledge of their client’s business, offering tailored auditing advice and constructive suggestions for improvement.

RSM AUSTRALIA APPROACHES THE AUDIT AS A SERVICE FOR THE BENEFIT OF STAKEHOLDERS.

We demand audit excellence and set tough policies to achieve it. We hire talented people and invest heavily in training and tools, including systems for achieving consistency, objectivity and accountability in strict compliance with professional standards. Our assurance services and advisory methodologies blend technical competencies with a detailed, robust knowledge of our clients and their markets. You can expect a high level of contact with your audit partner, backed by state-of-the-art systems.

Here are some of the auditing and assurance services we provide:

Financial reporting & advice

Our experts provide financial reporting and auditing advice to a huge variety of companies. No matter how little or large your business, a thorough grasp of current accounting and financial reporting standards is vital. RSM will help you to stay one step ahead by providing quality, relevant reporting and advice.

Financial statement audits

We deliver financial statement audit services that establish the integrity and reliability of the information provided, working closely with your audit committee, CFO and accounting staff. We identify your business’s key risks and the pivotal internal controls that will help to minimise them.

Regulatory technical advice

We use our expertise to advise our clients on compliance with regulatory requirements. Our team are fully up to date with these requirements, allowing us to give advice that is accurate and pragmatic.

US UGG audit compliant

Our specialist team have experience and expertise in providing assurance advice to the higher education sector. We have undertaken UGG audits at three large universities and successfully acquitted many specific purpose grants.

RSM Australia’s accredited audit services employs world-class, proprietary technology and delivers a paperless audit solution. Get in touch today for more information.

Top 5 issues in the implementation of AASB 16 Leases

AASB 16 Leases has now been effective for over 10 months, and RSM Australia’s Technical Accounting team is receiving an increasing number of questions about its implementation. 

Clarifying the transition of AASB 16 Leases

AASB 16 Leases is now effective, since it applies for periods beginning on or after 1 January 2019. 

2019 Transparency Report

Quality is the absolute cornerstone for RSM. Our 2019 Transparency Report, prepared in accordance with Section 332 of the Corporations Act 2001 provides an overview of our framework for audit quality.

Hayne Royal Commissioner’s Assessment of the Superannuation Industry

The Australian superannuation and wealth management sector has been in the spotlight over the past year as a result of the Hayne Royal Commission. The role of the Trustee and the suitability of the vertical integration model within the sole purpose test has been challenged.

ASX corporate governance principles (fourth edition)

Culture, values and trust What's happening? The fourth edition of the ASX Corporate Governance Council’s Corporate Governance Principles was released on 27 February 2019.

Download the AASB 16 Leasing Model

What is AASB 16 - Leases?

Reduced financial reporting requirements for SME businesses

These changes were passed into law in May 2019 and will come into effect from 1 July 2019 onwards.

Blockchain and the evolution of Cryptocurrencies

Blockchain and the evolution of Cryptocurrencies is still a work in progress.

Trust Account Audits

In the wake of recent events, real estate agents are now under greater scrutiny from regulatory authorities, as well as the general public. As the threat of cyber crime attacks increases, the security of your client monies is critical to your business reputation. How we can help

Case study: McNab

"What I find dealing with the firm is that they are real people, they really understand the construction industry. I think that’s a very important part of what they offer to me and the business at McNab.

Case study: UFS Dispensaries

“We have an excellent working relationship with RSM, in particular with the audit team. It is an open and frank relationship and it is definitely a high trust relationship.

Scrutiny of new accounting standards – inaction not tolerated

ASIC’s heightened scrutiny of ‘big three’ accounting standards highlight inaction won’t be tolerated. 

AEMO report on the South Australian blackout

On Tuesday 28 March 2017, the Australian Energy Market Operator (AEMO) released its fourth and final report into South Australia's September blackout with the conclusion that overly sensitive settings in some wind farms resulted in the statewide blackout. It also found the intermittent nature of wind was not to blame for the statewide blackout.

The emergence of Blockchain- what you need to know!

Blockchain is one of the more exciting—and more misunderstood—emerging technologies.

ASIC media release on new accounting standards

ASIC published a media release on 16 December 2016 highlighting the need for action on three major new accounting standards.  The three standards are: AASB 9 Financial Instruments (applies from years commencing 1 January 2018)

The fine art of hiring consulting services

By investing more time running a competitive tender process, companies should end up with consulting services that better reflect their business needs.

Case study: Porter Davis Homes

“The ease with which we do business is a big tick box – supportive as well as providing the right advice. Our willingness to recommend RSM as an organisation would be absolute”. - Paul Wolff, Director Sales and Marketing, Porter Davis Homes

Industry insight - Vitamin and supplement manufacturing

A snapshot of the key statistics and current industry performance in the vitamin and supplement manufacturing sector.

Industry insight - Milk powder manufacturing

A snapshot of the key statistics and current industry performance in the milk powder manufacturing sector.

Maintaining audit quality: 10 things audit committees should check with auditors

The purpose of an audit is to confirm the validity of financial statements and help determine the value of an organisation. The auditor’s role is to express an objective opinion on whether the organisation’s management has fairly presented the information in financial statements.

Change in discount rate for employee obligations

Under AASB 119 Employee Benefits, all for-profit entities and not-for-profit private sector entities are required to discount employee liabilities using the rate applicable to high quality corporate bonds. Where there is no deep market for those bonds, government bond rates are used.

Managing change at board and executive level

RSM recently held a lunch featuring a panel including Paula Dwyer, Professor Judith Sloan and Fiona McGauchie with Catherine Walter as MC to discuss how to manage change at board and executive level. This is a synopsis of the event.

RSM expands into Toowoomba

RSM, one of the largest mid-tier accounting firms in Australia, has announced its expansion into regional Queensland, opening an office in Toowoomba. The expansion comes as RSM consolidates a two-year association with Toowoomba accounting firm Laird Advisory by merging the local practice with the national accounting firm.

Private certification put to minister

Master Builder members met Planning Minister John Day in late May at a Lunch hosted by RSM and put forward a strong case for private certification of planning approvals.  Numerous case studies were presented of slow response times in many local government areas.