- Tier 1 - Revenue less than $250,000. No audit or review required, unless specifically requested by the members or regulator;
- Tier 2 - Revenue from $250,000 to $1 million. A review by an independent accountant is required as a minimum;
- Tier 3 - Revenue more than $1 million. An audit is required.
- Associations need to have an appropriately drafted set of Financial Statements for presentation at the Annual General Meeting and an audit may assist with this;
- Review/audit provides peace of mind to honorary committee members and may assist in attracting new committee members;
- The ability to apply for grant income from government or other agencies may have audit as a
- If revenue levels are close to a threshold you should consider the requirement of the upper level as it may impact you in the near future.
We service clients in the Woodend and Macedon Ranges region within Victoria Australia.