Appointing an auditor or verifier is a crucial to ensure your financial are audit in detail. This process involves the selection and engagement of a qualified professional or firm to assess, examine, and validate financial records, operations, or compliance with established standards and regulations. Here’s a more detailed discussion of appointing an auditor or verifier
For further information – please see- Appointing an auditor or verifier
Type of auditor or verifier you need to appoint
Large associations must appoint a certified accountant or registered auditor to audit their financial statements.
Medium associations must appoint a certified accountant or registered auditor or apply to appoint an approved person to audit or verify their financial statements.
Your medium association must have an audit if required under any law, including the Gaming Machine Act 1991—for example, if you have pokies. In all other cases verification is enough unless your members specifically want an audit.
Your auditor, accountant or approved person must view your financial statement and provide a signed written statement confirming they’re satisfied with your financial statement. An example statement is:
I have examined the association’s financial records and state that the association’s financial records show the association has adequate bookkeeping processes in place to correctly record and explain transactions to enable a true and fair financial statement to be prepared.
Small associations must have an audit if required to under any law, including the Gaming Machine Act—for example, if you have pokies. In all other cases verification is enough unless your members specifically want an audit.
Your president or treasurer will need to verify your financial statements and provide this signed written statement:
The association’s financial records show the association keeps adequate financial records that correctly record and explain transactions and enable a true and fair financial statement to be prepared.
Acceptable auditors
Registered auditor
A registered auditor can audit or verify your financial records if they hold a valid registration with the Australian Securities and Investments Commission (ASIC) as a company auditor under the Corporations Act 2001.
Certified accountant
Your accountant must be a certified member of one of the following organisations to be eligible to audit your financial records:
- CPA Australia—they will use the letters CPA or FCPA after their name
- Chartered Accountants Australia and New Zealand—using the letters CA or FCA
- the Institute of Public Accountants—using the letters MIPA or FIPA.
Another approved person
Medium or small associations that want someone else—other than a registered auditor or certified accountant—to audit or verify their financial records can fill out an application for approval of auditor or verifier (Form 21).
We’ll only approve another person to audit or verify your records if we’re satisfied with their experience, qualifications and insurance cover.
Ineligible auditors
– Your auditor or verifier can’t be:
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Contact Information
Email: registrationServices@justice.qld.gov.au
Contact: 13 QGOV (13 74 68)
Website: Contacting Fair Trading
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