CB Audit Pty Ltd

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CB Audit was commenced in 1995 by Chris Booker, after identifying the need for independent audit specialists, offering specialised service. Commencing primarily with the audit of Self Managed Superannuation Funds and not-for-profit organisations, CB Audit has since grown to include clients such as private companies, public companies, self managed super funds, AFS license holders, security dealers, insurance brokers, travel agents, child care centres, property syndicates and non-taxable entities such as clubs, associations, community organisations, churches and nursing homes.In July 2011, succession planning saw the ownership of CB Audit transfer to Matthew Williams. Having been a long-term employee of CB Audit, Matt continues to provide high quality customer service to our existing clientele to make the transition smooth and seamless. With a pre-existing working relationship, our clients have perceived this not as a change, but as building on a solid foundation that will continue to service their auditing requirements for many years to come. Chris continues to operate as a Director of the Company to assist Matthew and also in a technical consulting role to support Matt, and ultimately our clients.Matt continues to focus on integrity, honesty and personalised service. With this in mind, the majority of our engagements are conducted on the clients' premises with our Audit Team in attendance. If clients have any questions regarding the audit they are able to ask Matt directly and any issues arising can be discussed between the Auditor signing the report and the Accounting Manager.Our Mission is to provide professional, timely and high quality services to our clientele. The firm has been founded on integrity, objectivity and independence and embraces and maintains the professional standards and quality control expected of members of the ICAA (Institute of Certified Accountants Australia), IPA (Institute of Public Accountants) and SPAA (Self-Managed Super Fund Professionals Association). CB Audit has office in Brisbane, however we provide Audit Services to clients based in regional areas and interstate as well as those within South East Queensland.
Associations

Associations & Non Profits

Grants
Non Profit Organisations
Associations

Grants

Grant Audits

Grant Audits are often required by Government and other organisations that are providers of grant monies. As grants differ widely in their application and requirements, our audit involves a review of the grant's terms and agreement to ensure that the monies provided have been dealt with in the specified manner and spending has been reported correctly. Our audit also involves review and testing of income, expenses, assets and liabilities to ensure compliance with grant terms.

Non Profit Organisations

Not-for-Profit Organisations also need to have audits conducted on their accounts to ensure that they have a true representation of their accounts presented to members. Requirements for an audit are set out in the organisation's governing constitution. Entities can be Public Companies limited by guarantee, Private Companies, or State Registered Incorporated Associations.

Associations

Incorporated Associations

Incorporated Associations are regulated by the Office of Fair Trading in Queensland, or the equivalent in other states. In Queensland, Incorporated Associations are divided into levels 1,2 and 3, each with different levels of financial criteria and reporting requirements. The financial statements must be verified to confirm that the financial records show that the Association has book keeping processes in place to adequately record their income and expenditure and dealings with its assets and liabilities.

Business

Business Services

AFSL
Company Financial Reports
Insurance Brokers

AFSL

AFSL Audits

Australian Financial Services Licensees have an obligation under the law for ensuring that they comply on an ongoing basis with the requirements of the Financial Services Reform (FSR) Act and the conditions specified in the license. An audit of the AFS Licensee ensures that these obligations are being met, in addition to the requirements of the Corporations Act 2001 and the Australian Securities and Investment Commission (ASIC).

Company Financial Reports

The objective of a Financial Report Audit is to enable us to express an independent opinion to members as to whether the Financial Report is prepared, in all material aspects, in accordance with an identified Financial Reporting Framework. For example - Audit of your Financial Report within the requirements of the Corporations Act, 2001.

Insurance Brokers

Insurance Brokers also fall under the FSA License agreement and therefore are subject to the rules and regulations associated with AFSLs. Audits of the IBA and statutory accounts of a Broker will ensure that such requirements are met and maintained.

Specialist Audits

Specialist Audit Services

Travel Agents
Super Funds
External & Remote Audits

Travel Agents

Travel Agent Audits

Travel Agents are required to lodge an Annual Financial Review within three months of the end of their financial year with the TCF (Travel Compensation Fund) and in some cases with IATA. In most cases, this would require lodgement by the 30th of September after a 30th of June year end. The AFR (Annual Financial Review) must be accompanied by an independent audit report. The audit includes a review of the client's trust account to ensure that they meet the requirements set out by the TCF for operation of the trust account. It also involves a financial audit to verify the amounts reported in the AFR. The AFR also involves four tests relating to the Trust Account, Working Capital, Net Tangible Assets and Net Capital and Reserves to ensure that the financial requirements are met, as set out by the TCF.

Super Funds

Self Managed Super Funds

The regulator of Self Managed Super Funds (SMSF), the ATO, places great importance on the annual audit of the SMSF. The audit of these funds involves both financial and compliance components. The purpose of this audit is to provide an independent report to the trustee that there are no material errors in the financial statements and that the fund has complied with the SIS Act, by which they are regulated. The auditor is under strict requirements to report any SIS breaches that are identified to enable them to be rectified.Our SMSF Audit enables Accountants, Financial Planners and Administrators of SMSFs to obtain an audit opinion that is free from any actual or perceived bias, undue influence or pressure. This ensures compliance with the jointly issued Section 290 (formerly Professional Statement F1 - 'Professional Independence') within the Code of Professional Conduct. The Professional Statement F1 has been issued by ICAA and CPA Australia to ensure the independence of members is achieved in all engagements that are undertaken by their members.

External & Remote Audits

External Audits

From time to time entities may employ our services to conduct an external audit of their organisation. This type of audit would involve would review of financial reports and other management reports to form an opinion on whether these reports provide a true reflection of the operations of the entity. As part of this audit, quality control systems and procedures would be reviewed and tested to identify any areas of weakness that may result in error or omission in reporting. Recommendations would be reported to identify areas where improvements may be realised.

Remote Audits

We have heard the need for a remote audit service for a variety of reasons. This service particularly suits small organsiations or entities that are located in rural and regional areas, where it may be difficult to source an Auditor with appropriate qualifications. It has also proved appealing to organisations with limited on-site space, or even larger organisations that work predominantly with electronically based documents. We work together with our clients to determine the audit service that best suits their requirements. If you would like more information about how to utilise this service in the future, please contact us.

Staff

Matthew Williams - Director, BCom, IPA, SSAud

Matt Joined CB Audit in May 2002. He has completed a Bachelor of Commerce with majors in Accounting and Human Resource Management through the University of Southern Queensland in 2007. Matt obtained his public practice certificate with IPA in 2010. He also gained accreditation as a SPAA SMSF approved auditor in 2010. For many years Matt has has worked closely with a wide variety of Audit clients to guide them through the audit process. Drawing on his experience, he assists clients to find solutions and practical ways to improve their systems. Contact Matt.

Chris Booker - Director, Consultant, FCA, SSAud, Registered Company Auditor

Chris has over 30 years of accounting and auditing experience including performing the audits of large listed companies, public companies, private companies, superannuation funds, clubs, unit trusts, partnerships, churches, charitable institutions, local government bodies, gold mining companies and many other organisations.Contact Chris.

Rebecca Farley - Auditor, CPA, BBus

Rebecca joined CB Audit in April 2010. She has completed a Bachelor of Business through Griffith University in 1998 and CPA program in 2008. Rebecca has over seven years audit experience over a variety of audit entities. Prior to a career in audit, she obtained valuable experience in the banking industry, with over eight years service. She also has firsthand knowledge of property transfers and settlements from her time spent as a settlement clerk. Rebecca has been heavily involved for many years in voluntary positions for her local surf lifesaving club and positions on the local CPA branch committee.Contact Rebecca.

Rachell Booker - Audit Assistant

Rachell joined CB Audit in July 2010. In her time with CB Audit Rachell has focussed mainly on the audit of Self Managed Super Funds, but is currently widening her knowledge and experience across all types of audits. Rachell assists in all aspects of audits and welcomes any challenge with which she is faced. She approaches audits with a keen sense of balance between the clients needs and the audit requirements.Contact Rachell.
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Contact Details.Phone: (07) 3823 5041Mobile: 0402 972 544Fax: (07) 3823 5041Email: matt_cbaudit.com.auMail: PO Box 1306 Capalaba Q 4157
CB Audit Pty Ltd. ABN: 32 146 530 529Liability Limited by a scheme approved under Professional Standards Legislation

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