Key points: Many for-purpose organisations rely heavily on grant funding, yet few have a clear plan for what happens if that funding is delayed, reduced or not renewed. Boards play a critical role in understanding funding dependency and ensuring the organisation can respond when funding assumptions change. Simple reporting, scenario planning and contingency strategies can […]
Jack is an experienced generalist with specialist depth across audit and assurance, financial reporting, technical accounting, sustainability reporting and taxation services. Jack has supported private businesses, public companies and not-for-profit organisations with a broad range of audit and advisory services throughout his career in Australia and North America. He leverages his breadth of experience to bring commercial insights, expert knowledge and considered technical advice to every […]
Key points: Grant funding can create unexpected audit and reporting obligations if requirements are not clearly understood at the outset. The biggest audit risks often start when grant contracts are signed, not when acquittals are due. Vague or impractical acquittal requirements can lead to delays, extra cost, and audit complications. Involving your auditor early can […]
Key points Changing auditors can sharpen governance, not just shake things up The right questions to ask before you sign your auditor on for another year A well-run tender process finds the right partner, not just the lowest price A structured, transparent tender process improves outcomes by separating quality from price and assessing day‑to‑day audit […]
Key points Ideal liquidity isn’t about fixed rules of thumb (e.g. 3–6 months of costs), but about how long an organisation can operate before decisions become forced rather than planned. Liquidity levels should reflect the organisation’s specific risks, revenue predictability, credible shock scenarios, and what is genuinely liquid and usable. A mature board can clearly […]
Key points The refundable/non‑refundable distinction is the starting point for determining whether R&D offsets are accounted for as grants (AASB 120) or income taxes (AASB 112). Refundable offsets are usually accounted for as government grants, while non‑refundable offsets are typically treated as income tax. The most common problems are premature recognition, inconsistent policies and thin […]
Key points: Early preparation is critical. It sets the foundation for a smooth first‑year audit. Technical uplift will require considerable time and effort. Applying Australian Accounting Standards (AASs) for the first time may require a reassessment of current accounting practices and can be time consuming. Unexpected commercial impacts can result. Applying AASs can have unforeseen impacts on […]
Key points Understand the requirements. Knowing the regulatory landscape and what an audit actually demands is essential for first-time success. Expect a step-change. Moving into an audited environment brings new levels of discipline, governance and scrutiny that many organisations underestimate. Navigate the challenges with the right support. The right auditor will guide you through […]
Key points ASIC has updated its enforcement priorities for 2026 – and there is an increase in ASIC action There is a focus on financial misconduct, including significant penalties for any infringement notice Non-lodgement is a strict liability offence ASIC recently announced its recent enforcement priorities – one of which is financial reporting misconduct including […]
Thank you for you interest