|List of financial reporting and audit questions|
What are the financial reporting requirements?
What books and records should a company keep?
Where can I find financial reports?
ASIC's role in regulating financial reporting requirements
Understanding financial reports – first steps
Who must have their financial report audited?
What is the purpose of an audit and auditor's report?
What is the difference between an 'audit' and a 'review' of a financial report?
Who can be an auditor? (including checking if an auditor is registered)
Who can audit a compliance plan of a registered managed investment scheme?
Compliance plan audit
Difference between auditing a company and a financial services licensee
How ASIC regulates financial reporting, auditing and auditors
How do I lodge a complaint about an auditor?
|See Financial reports (Information Sheet 31) which outlines which entities have to lodge financial reports, applicable exemptions and how to go about lodging|
|What books and records should my company keep? (Information Sheet 76)|
Your company and the law (Information Sheet 79)
|Question 1||Is the company consistently profitable or does it swing between profits and losses every few years?|
Look at the income statements.
|Question 2||Do the company's operations generate surplus cash each year? To what extent does the surplus cash from operations cover the cost of renewing plant and equipments and making new investments? |
Check the statement of cash flows.
|Question 3||How heavily does the company borrow to support its operations? What percentage of the total assets of the company is made up of borrowed money?|
See the balance sheet.