About Our Audit Services
Collins & Co Audit are able to provide a comprehensive auditing service that can help provide you with clarity and a new sense of direction in your business/ organisation. Auditing is a process that we are glad to be able to facilitate as we love to give businesses a comprehensive audit at a competitive price.
Understanding the true and fair position of your business/ organisation is a crucial aspect of your financial reporting as it provides stakeholders, lenders, and staff members with clarity around your business/ organisation’s financial position.
Businesses/ organisations may seek audit services for a wide range of reasons. Some businesses/ organisations have a legal requirement to undertake audit and assurance services on an annual basis.
We believe that all businesses/ organisations stand to gain knowledge and insight into their operations when they receive audit and assurance services. Please see below if you are unsure if you require an audit from a legal perspective.
We believe that an audit is the in-depth examination of the financial statements of an entity from which insight and a story can be drawn. Obviously, there is a compliance aspect to audit, but when you get a Collins & Co Audit, we go to every length to ensure that your business/ organisation story is understood and told.
Our Other Not-for-Profit Services

A War Story
A NFP approached Collins & Co Audit to provide an audit of a childcare centre.
As part of our audit, we performed a high-level analytical review of childcare payment receipts from the parents and childcare subsidies (CCS).
We noticed that the receipts per the client’s MYOB software for parent childcare receipts were approx. $56K below the amount of parent childcare receipts recorded as receipts in the Childcare Management System.
The manual records showing the actual receipts from parents ( by Cash, EFT or Direct Deposit) were then reconciled with the parent receipts per MYOB for the last month of the financial year.
We noticed that some of the parents’ receipts in cash per the manual records did not appear in the MYOB receipts for that date or expected date range.
We notified the Committee of Management that there was a potential fraud problem in the Association.
An independent accountant was engaged to perform a forensic reconciliation/review of the receipts per the manual receipts records in comparison with the MYOB receipts.
The independent accountant found fraud of more than $200,000 over four years, which was committed by a long-serving “trusted” employee.
The Association lodged a claim with their insurance company to recover some, but not all of the stolen monies. Criminal charges were laid against the employee involved.