As a specialist audit firm, Assura performs a wide range of audits; whether they be standard audits required by regulation, specialist audits or investigations and reports for varying industries.
We’re the trusted “Name in Audits” because that is all we do. Our independence is uncompromised.
AUSTRALIAN FINANCIAL SERVICES
(AFS) LICENCE AUDITS
Each year, AFS licencees must lodge with ASIC their profit and loss statement and balance sheet (together with form FS70) and an audit report (together with form FS71). The special purpose audit is required to ensure that AFS licencees comply with their AFS licence conditions, the Corporations Act and Regulations. Assura is experienced in providing audit services to the financial services industry.
WHEN TO LODGE
An AFS licencee must lodge its financial report within the following periods:
- If the AFS licencee is not a body corporate: within two months after the end of its financial year. The financial year of an AFS licencee who is not a body corporate must end on 30 June. This means an AFS licencee who is not a body corporate must lodge by 31 August;
- If the AFS licencee is a body corporate that is a disclosing entity: within three months after the end of its financial year. For example, if the financial year ends on 30 June, an AFS licencee which is a disclosing entity must lodge by 30 September; or
- If the AFS licencee is a body corporate that is not a disclosing entity: within four months after the end of its financial year. eg. If the financial year ends on 30 June, an AFS licencee which is not a disclosing entity must lodge by 31 October.