When to change your auditor, and how to get the most out of a tender process
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 […]
What is an ideal liquidity reserve for not-for-profits?
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 […]
R&D Tax Incentives: Getting the accounting right
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 […]
Your first audit: Practical steps and top 10 accounting issues
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 […]
Your first audit: What triggers an audit and what to expect
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 […]
ASIC late lodgement penalty updates: What it means for you
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 […]
Diagnose, repair, and then prepare: the essential health check before audit
Key points: Prevention is better (and cheaper) than crisis management Make sure your internal controls are not informal – an audit red flag Build confidence in your numbers beyond compliance Too many businesses only uncover problems during the audit process, such as non-compliance with accounting standards, missing documentation or systems that cannot produce reliable data. […]
Why it pays to consider the bigger picture on pricing increases
Key points Businesses must assess pricing changes within broader operational impacts, not in isolation. Renegotiating supplier contracts is a strategic alternative to absorbing or passing on cost increases. Small price hikes, like CPI-linked beer costs, can erode margins if not managed proactively. Why it pays to consider the bigger picture on pricing increases When the […]
Melissa Fowler
Melissa is a Client Director in our Business Advisory and Assurance team with over 25 years of experience within the profession. With extensive expertise and unwavering commitment to excellence, Melissa has diverse experience in audit and assurance, management accounting, corporate financial reporting and analysis. Delivering audit, accounting, financial reporting and advisory services to Not-for-Profit clients, […]