Investment Strategy Review
As you may already be aware recent legislative changes have imposed a requirement that the trustees of a self managed superannuation fund regularly review the fund’s investment strategy and that…
We offer a range of audit services for self managed super funds, not for profits, companies, trusts and committees.
Queensland Audit Services are SMSF audit specialists offering fast, affordable auditing services Australia wide.
Queensland Audit Services are experienced Not-For-Profit Audit Specialists offering fast, affordable auditing services throughout Queensland.
If you are a company and are looking for an independent, cost effective audit, speak to us.
If you maintain a trust account then an annual audit will be required. We have experience in all types of trust accounts.
Is your school’s P&C involved in any of these commercial activities? How closely are you following the operation guidelines for each?
Not all associations will need an audit. Whether or not your association needs to be audited depends on a number of factors:
1) You will need to know what legislation your entity is governed by. For an incorporated association it will be at least one of the following:
2) If your entity level is 2 or 3 association (not requiring a full audit) but you can carry on activities under either the Collections Act 1966 or Gaming Machine Act 1991, then your financial statements must be audited.
If, after examining the below table, you are still unsure whether your association needs an audit, please contact our team.
Level 1
Current assets of more than $100,000
or total revenue of more than $100,000.
An auditor or certified accountant must audit the financial statements.
Level 2
Current assets between $20,000 and
$100,000 and/or total revenue between
$20,000 and $100,000.
Level 2 incorporated associations required to have an audit conducted under the Collections Act 1966, Gaming Machine Act 1991 or under any law for any other purpose:
An auditor or certified accountant, or person approved by OFT, must verify the financial statements.
For other Level 2 incorporated associations:
An auditor or certified accountant, or person approved by the OFT, must verify the financial statements.
The verification statement must state “I have sighted the association’s financial records and the financial records show that the association has bookkeeping processes in place to adequately record the association’s income and expenditure and dealings with its assets and liabilities”.
Level 3
Current assets of less than $20,000 and
total revenue of less than $20,000
Level 2 incorporated associations required to have an audit conducted under the Collections Act 1966, Gaming Machine Act 1991 or under any law for any other purpose:
An auditor or certified accountant, or person approved by OFT, must verify the financial statements.
For other Level 2 incorporated associations:
An auditor or certified accountant, or person approved by the OFT, must verify the financial statements.
The verification statement must state “I have sighted the association’s financial records and the financial records show that the association has bookkeeping processes in place to adequately record the association’s income and expenditure and dealings with its assets and liabilities”.
As you may already be aware recent legislative changes have imposed a requirement that the trustees of a self managed superannuation fund regularly review the fund’s investment strategy and that…
Queensland Audit Services (QAS) were proud to be sponsors at the Dalby Business Excellence Awards (BEA) and gala dinner ceremony held Saturday 15 October at Dalby Showground Pavilion. QAS, sponsors of…
The government will introduce a Low Income Superannuation Tax Offset (LISTO), which will replace the Low Income Superannuation Contribution (LISC) policy that has been repealed from 1 July 2017. LISTO…
Third party collection for P&Cs has been enabled by the Department of Education and Training (DET) in the latest update to the Accounting Manual
QAS Administrative Officer
Joanne Dodd began her career with Queensland Audit Services (QAS) in 2009, gaining unparalleled experience in the Qld auditing space, while establishing herself as a proven administrative officer. Also helping Carrick Aland when administrative and reception support is required, Jo is known for her systems and workflow efficiency. Whilst QAS’s work is widespread throughout the state and nationally, Jo is proud to call Dalby home
B.Com CPA C.dec
Partner
Kent started his accounting career at a young age of 15, working after school for an Accountant in his hometown of Warwick. In January 1999, he began work with Carrick Ashmead and become a partner in July 2002. Through his career, Kent has developed his abilities to help Business’s operate and develop their own systems and processes, learning from this experience that being an accountant is more than just the numbers.
CPA, B.Bus, CTA
Auditor / Director
David has been involved in audit work since joining Carrick Ashmead as a graduate in 1990. He has experience in audit work from small incorporated associations, trust accounts, large companies and superannuation funds. David become a partner in the former Carrick Ashmead in 2002 and has been actively involved in management of the audit division.
CPA, MBA (Acc), B Bus (Ag), Registered Company Auditor (ASIC)
Audit Manager
Shelley is the Audit Manager of Queensland Audit Services with over 16 years of professional experience in audit. Shelley spent 9 years with a firm affiliated with a top tier firm and KPMG before making the transition to QLD Audit Services in June 2010.
Throughout her career Shelley has obtained significant experience in audits of companies both small and large, not for profit, trust accounts, self-managed superannuation funds, auditor general, joint ventures and aboriginal corporations.
B Bus (Accounting)
Auditor
Adam Menary is an Auditor who specialises in self-managed superannuation fund (SMSF) audits. He has spent his entire career working in public practice, gaining experience in accounting systems such as Class, BGL, Sage, MYOB Accountants Enterprise & Accountants Office and QuickBooks to access the financial data in order to conduct professional and expedient audits.
B Arts Accounting, Management & Public Admin
Audit Supervisor
Bimal completed his Bachelor of Arts Degree in Accounting and Management and Public Administration at the University of the South Pacific and then became a Tax Auditor at the Fiji Revenue & Customs Service where the role required risk profiling of taxpayers’ income tax assessments, interpreting and analysing tax legislation, ascertaining under-declared assessable income and determining non-deductible expenses.