From time to time, organisations in both the commercial and not-for-profit sectors may require a limited scope audit to provide additional assurance in relation to specific matters. Limited scope audits or reviews may also be used for smaller organisations to enable them to access the services of reputable assurance providers where they cannot afford the cost of a full audit undertaken in accordance with the Australian Auditing Standards.
We are engaged to undertake limited scope audits and reviews for our clients typically where the governance body is seeking greater comfort in relation to perceived areas of financial business risk. A limited scope audit or review may also be required when management wish to demonstrate high standards of accountability, present a greater level of credibility or where various stakeholders require assurance over specific areas.
We are proud of and value our working relationships with both management and governance bodies. They help to ensure that maximum value is provided whilst maintaining strict independence.
We would be pleased to talk to you about how our audit services can provide value to your business.