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We use online audit software which enables us to specifically tailor our audit programs to your entity and ensure our audits are compliant with Australian Auditing Standards and the Corporations Law.

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Formalise Agreement

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• Discuss the engagement with management to confirm any amendments to the scope of engagement.

• Prepare the engagement letter outlining the scope of the audit engagement.

• Establish an agreed-upon audit timetable clearly outlining the timing of provision of service, critical meetings, delivery of the audit report and management letter.

• Develop and forward the Curtain & Co audit checklist detailing the expected information to be ready at the commencement of the audit.

 

Further to the above, we will hold discussions with management which will allow us to understand the business, financial risks and your strategy.  As a result of these discussions, we will gain a sound knowledge of your processes and control environment, which is fundamental to our assessment of audit risks for TED Properties. Ongoing communication with management during the audit process will ensure issues are identified early, managed and resolved in a timely manner.

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Planning, Risk Assessment and Formalisation of Financial Environment

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The outcome of the planning and risk identification phase will drive the audit approach. In this phase, we will work closely with the finance team to understand the controls framework and how management and the Board satisfy themselves of the effectiveness of the control environment.

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Performance of the Year-End Audit

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This phase will be driven by the outcomes of the first two phases of the audit.  The approach for year-end audit procedures will be documented in the audit strategy document, which will be agreed with management and the Board prior to commencement.

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Conclusion of Audit - Audit Report on Findings

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Upon completion of the field work, we will produce a Board report that will include:

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• A summary of the results of audit procedures performed to identify identified risks.

• A summary of financial reporting issues.

• Audit adjustments and unadjusted differences.

• Recommendations for improvements in policies, procedures, internal controls and accounting systems that we have identified.​

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