Audit Services for Australian Subsidiaries

Audit is highly regulated in Australia. New regulations for IFRS and IAS are issued internationally, and then adapted to Australian laws by the Australian Accounting Standards Board (AASB).

Australia’s audit requirements in brief

The Australian Securities and Investments Commission (ASIC) is Australia’s corporate and financial markets regulator. Australian law requires companies operating in Australia to prepare and lodge financial reports with ASIC if they meet two of the following conditions (as at June 2019):

  • Over $50m consolidated revenue for the year*
  • Over $25m consolidated gross assets at year end*
  • Over 100 employees at year end (full time equivalents)*

*Thresholds subject to change

It is also compulsory for companies listed on the stock exchange, public companies, registered schemes and some smaller companies to prepare and lodge audited financial reports in Australia. Audited financial reports also offer international businesses in Australia many other benefits.  Learn more about the benefits of an external audit or selecting an auditor in Australia.

Our audit services for Australian subsidiaries of foreign owned businesses

Accru audit services meet the highest national and international standards. Our audit approach adds value to any type of business but is particularly valuable for foreign-owned subsidiaries in Australia, where our experience and insights provide greater efficiencies, cost savings and practical ideas for improving internal controls and business systems.

We are skilled and experienced in Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), and individual country specific standards such as HGB (Germany).

Our audit and audit-related consulting services include:

  • Statutory audits – Audit of annual and consolidated financial statements, and special purpose audits
  • Voluntary audits – Audit of operational processes and internal control systems
  • Financial Reporting – Preparation of annual and consolidated financial reports
  • Fraud prevention & forensic investigation
  • Corporate governance, auditing and regulatory matters
  • Due diligence for mergers, acquisitions & business sales.

Accru international business auditors

Our audit partners are typically also Registered Company Auditors, Registered Tax Agents and Registered Self-Managed Superannuation Fund Auditors.

Our audit team are familiar with International, European and Australian financial reporting standards, business systems and cultures. We have German and French speaking accountants on staff to discuss international accounting standards and audit-related issues in your native language when needed.

Learn more about our international business auditors.

Our audit work with Australian subsidiary companies

Accru provides audit services to many successful German & Austrian ‘mittelstand’, European, US  and Asian companies.  Examples include:

  • Helped a German mining equipment & services company to streamline business processes and implement best practice controls for error detection. This enabled the Head Office to have greater visibility over their Australian subsidiary’s financial management.
  • Supported an Austrian kitchen fittings company with audit, assurance, due diligence and advisory services for over a decade, helping them to grow to a major Australian brand and achieve a successful vertical integration.
  • Assisted a new Financial Controller for a US listed scientific instruments company to overcome the knowledge vacuum left by the departure of the previous Financial Controller and finance team. As the company’s auditors for many years, we brought our deep understanding of the business to help the Financial Controller meet the challenges of his new role.

Learn more about AccruAccru work with clients, or see an overview of our services for German-speaking businesses.

Accru Audit Services for Australian Subsidiaries Experts
adelaide
His ability to remain in the real world means that clients receive work with real clarity and no over-kill.
brisbane
He understands the value of good communication and keeping his clients informed.
hobart
Fiona is enthusiastic about informing and reassuring clients of their financial position, be it in regard to the value of their businesses, or their tax returns.
melbourne
He now leads the audit team within our practice that has experienced strong growth over the past five years.
perth
His approach builds trust and has enabled him to forge many long-term relationships over his 20-year career.
sydney
Steven specialises in external auditing, due diligence, initial public offerings, stock exchange listings and financial reporting.
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