Audit & Financial Reporting

A guide to auditing real estate trust accounts

Audit & Financial Reporting

A guide to auditing real estate trust accounts

In Victoria, real estate agents who hold or receive money on or behalf of others are required to open and maintain trust accounts.

Trust taxation and family groups: Navigating the new era of trusts

Audit & Financial Reporting

Trust taxation and family groups: Navigating the new era of trusts

There are a few things to keep in mind as you navigate the taxation of family trusts going forward. Here's what you need to know.

Requirements for independent audit of solicitor trust accounts

Audit & Financial Reporting

Requirements for independent audit of solicitor trust accounts

Solicitors who operate trust accounts are required to keep accurate records for annual audits. Here’s what you need to know.

Significant changes to owners’ corporation: what are they?

Audit & Financial Reporting

Significant changes to owners’ corporation: what are they?

Significant reforms to the way owners’ corporations operate in Victoria are now in effect. Here’s what you need to know.

Australian Charities and Not-for-profits Commission (ACNC) introduces financial reporting threshold relief

Audit & Financial Reporting

Australian Charities and Not-for-profits Commission (ACNC) introduces financial reporting threshold relief

The Australian Charities and Not-for-profits Commission (ACNC) is set to introduce a relief in reporting...
How LDB accountants bring value to the not-for-profit (NFP) sector

Audit & Financial Reporting

How LDB accountants bring value to the not-for-profit (NFP) sector

Not-for-profit (NFP) organisations are a central part of Australian life and Australians love to support...
Changes to Special Purpose Financial Statements (SPFS) and Reduced Disclosure Requirements

Audit & Financial Reporting

Changes to Special Purpose Financial Statements (SPFS) and Reduced Disclosure Requirements

Rules that apply to for-profit entities preparing special purpose financial statements will soon change. From...
What is the audit process?

Audit & Financial Reporting

What is the audit process?

Financial audits are an important part of financial reporting for businesses and organisations, with...
What is a financial audit and why is an audit required?

Audit & Financial Reporting

What is a financial audit and why is an audit required?

What is financial auditing? If you need an independent opinion on the financial statements of your business,...
COVID-19 and financial reporting: completing year-end solvency statements

Audit & Financial Reporting

COVID-19 and financial reporting: completing year-end solvency statements

Are you aware of the implications that COVID-19 may have on year-end solvency statements and consequently...
Post-audit debrief: How to review your year-end financial audit

Audit & Financial Reporting

Post-audit debrief: How to review your year-end financial audit

Audits are costly and time-consuming exercises, so it’s important to review your audit results to ensure...
How can my business prepare for a financial audit?

Audit & Financial Reporting

How can my business prepare for a financial audit?

Audits are time-consuming and costly events for businesses and organisations, however preparing for an...
Audit advantage: How an LDB director-initiated audit gives your business the edge

Audit & Financial Reporting

Audit advantage: How an LDB director-initiated audit gives your business the edge

Companies big and small can benefit from a director-initiated audit, especially when an experienced audit director is in charge.

, there are some common questions you should expect them to ask. And to get the most out of your auditor’s experience and expertise, there are some questions you should also be asking them.

Audit & Financial Reporting

Are your auditors asking the right questions? How to audit your auditors

The primary purpose of an audit is to form an opinion as to whether the financial statements of a company...
What are the benefits of an audit for a small or medium enterprise (SME)?

Audit & Financial Reporting

What are the benefits of an audit for a small or medium enterprise (SME)?

While public companies and large proprietary companies are legally required to have their financial statements...