Whether you are required by law or choose to have an audit undertaken of your annual financial statements, Cranstoun & Hussein have a highly regarded audit and assurance division. We are experienced in the external audits of listed and unlisted public companies, managed investment schemes, large proprietary companies and not for profit organisations. We are also contractors to the Queensland Audit Office.
We offer a full range of auditing services for other entities including:
* Superannuation funds
* Solicitors trust accounts
* Real estate agents trust accounts
* Local Government audits
* Statutory Bodies and Government Owned Corporations
* Aboriginal Corporations
We have experience in assisting clients to meet requirements of the Sarbanes Oxley legislation. This includes documenting, testing and assisting with remediation of internal control processes and information systems for controlled entities of U.S. companies.
We offer Probity audit services in regard to tender processes.
Our Audit division has up to date knowledge of International Financial Reporting Standards and CLERP 9 and can provide assistance with preparation of statutory financial statements in accordance with accounting standards.
The benefits of an audit
*Helps to identify weaknesses in accounting systems and internal controls;
* Assures any directors who are not involved in the accounting functions on a day-today basis that the business is running in accordance with the information they are receiving;
* Helps reduce scope for fraud and poor accounting. It cannot, of course, guarantee detection;
* Facilitates the provision of advice that can have real financial benefits for a business, including how the business is running. Advice can cover anything from the strengthening of internal controls, to reducing the risk of fraud;
* Adds credibility to published information for employees, customers, suppliers, investors and financiers;
* Provides assurance to shareholders (if they are not directors closely involved in the business) that the figures in the accounts show a true and fair view.

Why choose Cranstoun & Husseins`s audit and assurance division
In choosing your auditors we believe that you will be interested in obtaining a quality service at a fair price. We have the expertise to carry out such services in a professional manner within the required time and we believe our fees are competitive. We would also seek to add value to the audit function and provide you with a proactive and personalised service.
Our team of core advisers is experienced in providing proactive services and advice on matters relevant to growing businesses. Cranstoun & Hussein has the people, technical skills and the required experience to enable us to work with you to achieve your goals.
We believe the audit function should add value and credibility to financial information used by management and presented to the shareholders. Ultimately it will be a combination of skills and expertise of our team which will enable us to add value to your organisation during the audit process.
Our risk based and objective driven approach enables us to deliver our audit opinion at a highly competitive price.
Experience
* Cranstoun & Hussein has been working with and assisting clients meet their audit requirements since 1961. As a Chartered Accounting firm, we meet the requirements of the Institute of Chartered Accountants in relation to continuous professional development.
* Our audit and assurance division includes three principals (all registered company auditors) with over 60 years combined experience. The audit team assigned to your organisation would be supervised by an audit manager and be staffed with experienced, Australian trained auditors.
Initiative
* We consider the provision of our professional services as a basic requirement of your organisation. Our "value add" is the provision of advice and assistance to your organisation.
* We can, and have assisted clients, in relation to all areas of their business operations including advice on:
* Internal control procedures;
* Information technology systems;
* Disaster management;
*Independent expert reports; and
* Assistance with the preparation of financial reports.
Integrity
*The firm, principals and staff, maintain a high ethical standard in dealings with all clients and associates. Our internal quality control requirements include a two principal review process on all audit engagements. In addition the availability of three registered company auditors ensures auditor rotation requirements of the Corporations Act 2001 are met.
Accessibility
* The availability of two principals for each audit and assurance engagement ensures that the audit review process is stringent which in turn ensures that all audit objectives are met.
* Our audit process allows for a high level of principal involvement on each assignment.
Timely response
* As a client of Cranstoun & Hussein you can be assured that procedures and policies exist within the firm to ensure that we can deliver a timely response to any issues, queries or concerns that you may have in relation to your organisation.
* Principals are available to assist clients with issues as they arise.
Quality control
* Our audit files are subject to review as part of the quality control review program of the Institute of Chartered Accountants in Australia which monitors compliance with professional standards by its members.
* Our firm is also compliant with APES 320 "Quality Control for Firms". APES 320 requires our firm to establish a system of quality control designed to provide us with reasonable assurance that the firm and its personnel comply with Professional Standards and regulatory and legal requirements and that reports issued by the firm or engagement partners are appropriate in the circumstances.

For more information please contact Junaide Latif:
junaidel@cah.com.au

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