Company Audit or 3 tiers: Limited by Review Tier 1 Revenue <$250,000 – Guarantee depending Tier 2 Revenue <$1million but > $250,000; or – (Corporations on Tier Tier 3 Revenue > $1million. – Act) type. Audit/review requirements: Tier 1 no review or audit required. – Tier 2 audit or review. – Tier 3 audit required. – Member of a professional body (IPA, CAANZ, CPA) and the holder of a PPC who is not an RCA may conduct a review of a Tier 1 or Tier 2 entity. Charities Audit or Under the Australian Charities and Not-for-profits Commission Act 2012 (Cth), charities reporting requirements are dependent on their classification as Review either small, medium or large charities. depending on Small Charity Revenue <250,000 – Medium Charity Revenue <$1million but >$250,000; or – Large Charity Revenue >$1million. – Audit/review requirements: Small Charity no audit or review required unless required by the constitution. – Medium Charity audit or review; or – Large Charity audit. – Member of a professional body (IPA, CAANZ, CPA) and the holder of a PPC who is not an RCA may conduct a review of a Small Charity (where required) or a Medium Charity. Publicly listed Audit and Registered Company Auditor. entity half-year review.
Company Limited by Guarantee (Corporations Act) Audit or Review depending on Tier type. 3 tiers: Tier 1 – Revenue <$250,000 Tier 2 – Revenue <$1million but > $250,000; or Tier 3 – Revenue > $1million. Audit/review requirements: Tier 1 – no review or audit required. Tier 2 – audit or review. Tier 3 – audit required. Member of a professional body (IPA, CAANZ, CPA) and the holder of a PPC who is not an RCA may conduct a review of a Tier 1 or Tier 2 entity. Charities Audit or Review depending on Under the Australian Charities and Not-for-profits Commission Act 2012 (Cth), charities reporting requirements are dependent on their classification as either small, medium or large charities. Small Charity – Revenue <250,000 Medium Charity – Revenue <$1million but >$250,000; or Large Charity – Revenue >$1million. Audit/review requirements: Small Charity – no audit or review required unless required by the constitution. Medium Charity – audit or review; or Large Charity – audit. Member of a professional body (IPA, CAANZ, CPA) and the holder of a PPC who is not an RCA may conduct a review of a Small Charity (where required) or a Medium Charity. Publicly listed entity Audit and half-year review. Registered Company Auditor.
Who-can-audit-what-October-2015-table-format-for-all-statesv2-4-AB-EDIT.docx