Audit & Assurance
Ascend’s Audit and Assurance division delivers owners the flexibility to choose the level of review that best suits their strata company’s particular needs.
Compliance Check
The Affordable Solution
Ascend’s Strata Compliance Check goes through a detailed 60 point checklist to ensure compliance with all tax requirements including:
Goods & Services Tax
Income tax treatment of income (including the correct treatment of common property income)
ABNs
TFNs
employee withholding requirements
Public Officer appointment confirmations
Fringe Benefits Tax
Superannuation requirements
...and more.
With a summary report provided at conclusion, Ascend’s Compliance Checks are an affordable tool to provide owners with the peace of mind that their managers are fulfilling all of their strata company’s tax responsibilities under the law. Discounts are available to managers who wish to provide compliance checks on their entire portfolio on an ongoing (annual) basis.
Financial Review
A Detailed Check of the Financial Reports
In addition to the checks carried out under a Compliance Check, an Ascend Financial Review ensures that the strata company’s financials, as prepared by their strata manager, accurately reflect the true financial position and performance of the strata company.
Conducted by a qualified and independent member of Ascend’s Tax Team, Ascend’s Financial Reviews provide a detailed analysis of a strata company’s income, expenditure, assets and liabilities, comparing them to source documents, budgets, minutes and ATO records. The strata manager is provided with the guidance and suggested corrections before a final report is provided to summarise the final results.
Financial Reviews are by far our most popular assurance service as they provide thorough checking at a price significantly cheaper than full blown audits.
Strata Audit
The Optimum Level of Assurance
Carried out personally by our most qualified and experienced audit partners and using the most up to date and relevant audit techniques, Ascend’s Strata Audits are suited to larger strata schemes or those with specific concerns about the financial management of their investments.
Strata Audits provide the most thorough review of your financials available in the market and are tailored specifically for Western Australian strata companies.