BVO audit and
review services

Plain language reporting, objective expertise and advice to minimise your risk

BVO audit and
review services

Plain language reporting, objective expertise and advice to minimise your risk

There is a lot of jargon in the auditing world.
Let’s clarify some of the terms, to make choosing the right service easy.

Audits vs reviews

BVO Audit provide the full suite of auditing and review services. While audits and reviews are often required by law, there are many instances where they are voluntary, not mandated. There are many good reasons to elect to have one. But let’s get clear on the difference between an audit and a review first.

An audit is the most thorough analysis of an organisation’s financial statements and gives you the highest possible level of assurance that your financial statements paint a true picture of your organisation’s financial position.

A review is similar but comes with a lower level of analysis and therefore a lower level of assurance.

Not sure if you need an audit or review, or if you are required by law to have one? To help you figure it out we’ve created an easy-to-follow decision tree.

What about internal vs external audits/reviews?

BVO Audit provides both internal and external audit and review services.

An external audit is an audit or review conducted by a person or organisation outside your company. These are also called independent audits or reviews.

An internal audit is when an organisation employs staff or engages an external firm to check that all of the organisation’s policies and procedures (internal controls) are being followed and that internal risks are addressed.

What’s the difference between statutory or voluntary audits/reviews?

BVO Audit offer statutory or mandatory AND voluntary audits and reviews.

A statutory audit/review is one that is mandated by legislation. If your organisation is required by law to have its financial statements audited or reviewed, this is called a statutory audit or review. If your organisation fits the criteria, it is legally required to comply.

A voluntary audit/review is when your organisation is not required by law to have its financial statements audited or reviewed, but you elect to have them audited or reviewed. Often this is to satisfy funding or accreditation requirements, and/or to give shareholders, partners and stakeholders peace of mind.

Do I need a statutory audit or review?

Who we work with and the services we offer

BVO Audit work with a range of Not-For-Profit and For-Profit organisations. Find out more about the services we provide and how we can help your organisation by choosing from the list below.

Not For Profit

Charitable Trusts
Incorporated Societies
Clubs
Churches
Volunteer service organisations

Education provider

Charitable Private Training Establishments
Education and training providers

Real Estate Business

Body Corporates
Real Estate Trust holders

Business with overseas shareholders

Book a call with a qualified auditor

Businesses getting ready to attract funding

Book a call with a qualified auditor

How the audit process works.
The process spelled out.

You’ll love how easy it is to work with us. We’ll do the work either at your place or at our offices in Newmarket, then prepare a report on what we found.

1. Discuss

Discuss your requirements with one of our qualified auditors.

2. Estimate

Receive a formal fee estimate for the job, without obligation.

3. Engage

Decide to engage the services of BVO Audit.

4. Step-by-Step

Get step-by-step, easy-to-follow instructions and a checklist to help you gather all the relevant information.

5. Your place or ours

We’ll do the work either at your place or at ours, with minimal disruption, to assess and analyse your information and systems.

6. Audit Reports

You’ll receive audit reports of your financial statements, plus a plain language management letter containing constructive feedback on systems, processes or control measures that have been identified, to help you meet stakeholder goals.

Book a consultation.

Book a free 30 min no-obligation call or video with a qualified auditor.