about
Independent 
Audit Services

Independent Audit Services Pty Ltd (IAS) is a Registered Audit Company registered in Brisbane, within the Australian state of Queensland. Founded in 2014, IAS specializes exclusively in financial audit and assurance services. The firm operates with a lean structure, allowing it to offer competitive pricing without compromising on the quality or professionalism of its audits.

Brisbane

Financial compliance and statutory audit services in progress

queensland

australia

New Zealand

the UAE

IAS is primarily based in Brisbane, Queensland, Australia. However, in recent times, IAS has since opened two offices overseas and expanded its service offerings to New Zealand and the United Arab Emirates (UAE).

our team

Our team comprises of highly qualified professionals, each holding CPA or CA certifications coupled with significant experience in Big Four and other mid and second tiered accounting firms both in Australia and overseas. This expertise enables us to deliver exceptional audit services and experience to our clients. 

Additionally, our team's diverse cultural backgrounds allow us to understand and address the unique needs of clients from various cultural contexts, ensuring tailored and effective solutions.

We approach every engagement with a steadfast commitment to audit independence, ensuring our objectivity and compliance with regulatory standards. Concurrently, we prioritise exceptional client service by delivering timely and accurate reports, tailored to meet the unique needs of each client.

The auditor in charge and audit director are always available for the clients whenever there are questions to be addressed to ensure timely advice is provided.

Professional team of independent auditors at our Brisbane office
Professional team of independent auditors at our Brisbane office

meet our directors

Jeremiah Thum

Chartered Accountant Australian & New Zealand – CA ANZ
Certified Practising Accountant - CPA Australia
Registered Company Auditor 
Self-Managed Superannuation Fund (SMSF) Auditor

Experienced financial audit professionals working at IAS Audit
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BODY CORPORATES

1.1 Incorporation of an UAE Entity
1.2 Opening Bank Account!
1.3 Nominee services

companies

Large proprietary companies must be audited as stipulated by the Corporations Act 2001. Small proprietary companies must be audited in certain circumstances also as stipulated by the Corporations Act 2001. The auditor must be a Registered Company Auditor approved by ASIC.

Certain other companies such as unlisted public companies limited by shares as well as foreign-controlled companies may be required to be audited. We will be happy to discuss with you to understand your specific requirements.

COMMUNITY-BASED SERVICE PROVIDERS

Are you complying with your Australian Charities and Not-For-Profit Commission (ACNC) responsibilities and/ or all other legal requirements, whether you are an incorporated or unincorporated association, or company limited by guarantee?

The primary responsibility for the prevention and detection of fraud within charities, clubs and associations rests with both those charged with governance and the entity’s management.

An IAS Audit will provide you with the assurance that you are complying with all of your legal responsibilities. Our pricing is competitive in all areas of our audit work and our qualified team ensures that your audit is of the highest standard.

AUSTRALIAN FINANCIAL SERVICES LICENSEES and MANAGED INVESTMENT SCHEMES

Australian Financial Services Licensees

The Corporations Act 2001 requires an entity that operates a financial services business to hold an AFS licence or be authorised by a licensee.

Australian financial services (“AFS”) licencees must lodge their profit and loss statement and balance sheet (together with form FS70) and an audit report (together with form FS71) annually with Australian Securities & Investments Commission(“ASIC”). The special purpose audit is required to ensure that AFS licencees comply with their AFS licence conditions, the Corporations Act and Regulations.

Managed Investment Schemes

Responsible entities for Managed Investment Schemes must appoint an auditor of the Compliance Plan for the Scheme. The auditor must conduct an audit of the Compliance Plan within three months of the end of the financial year of the Registered scheme and provide an audit report to the Responsible Entity.

Director, Jeremiah Thum, has extensive experience in the audit of AFS Licensees and Managed Investment Schemes and related Compliance Plans.

SELF-MANAGED SUPERANNUATION FUNDS

Director, Jeremiah Thum, is an ASIC approved SMSF auditor.
IAS provides specialist audit services to Trustees of Self-Managed Superannuation Funds and Fund Administrators who are currently not receiving prompt responses to technical audit queries nor close professional attention and advice. IAS gives you –

  • prompt, reliable, high-quality audit services;
  • confidence and support for your compliance with all legislative requirements pertaining to SMSF audits;
  • continuing ready access to senior members of a qualified audit team;
  • specific, detailed and accurate responses to all your questions.

SHOPPING CENTRE & COMMERCIAL LEASE OUTGOINGS

Shopping Centres

The Retail Shop Leases Act 1994 (the Act) sets the mandatory minimum standards for retail shop leases in Queensland.

The landlord is required to supply the tenant with an annual audited statement of outgoings within three months of the end of the accounting period. The statement must be audited by a registered auditor.

Commercial Leases

In addition to the rent, the tenant will often be responsible for reimbursing the landlord for outgoings payable in accordance with the terms of the lease.

IAS has the experience and necessary qualifications to perform all types of Outgoings audits.

TRUST ACCOUNTS

Solicitors

The requirement to deal with trust money and to maintain trust accounting records is an integral part of legal practice.

Legislation requires an audit of the Trust Account to be completed for each year ending 31 March and to be lodged with Queensland Law Society (“QLS”) within 60 days. IAS is also qualified to audit legal firms trust accounts opened in both NSW and VIC.

IAS can assist you in completing your reporting obligations. In addition to the year end reporting, IAS is at all times available to help with general bookkeeping/ accounting queries which may arise during the year in respect of your Trust Account.

Real Estate and Other Trust accounts

On 1 December 2014, four industry-specific acts replaced the Property Agents and Motor Dealers Act 2000 (“PAMDA”):

  • Property Occupations Act 2014
  • Motor Dealers and Chattel Auctioneers Act 2014
  • Debt Collectors (Field Agents and Collection Agents) Act 2014
  • Agents Financial Administration Act 2014

Real Estate Trust Accounts maintained under the former PAMDA will now be administered predominantly under the Agents Financial Administration Act 2014, while other industries will be administered under their applicable Acts. IAS is ably equipped to fulfill all your Trust Account audit requirements under these and other Acts.

IAS also has experience with audits from various other States regarding trust accounts.

BODY CORPORATES

In Queensland, most bodies corporate are community titles schemes registered under the Body Corporate and Community Management Act 1997 (“the Act”). In addition to the Act, each scheme is registered under one of five regulation modules. There are also other regulations that apply to all bodies corporate.

The Act requires that at its annual general meeting each year, the body corporate must consider a motion about appointing an auditor of its financial statements.

 

IAS has many years of experience and provides specialist services in the audit of body corporates to give members of the body corporate confidence in the reliability of the information being provided to them in the financial statements.

GRANT ACQUITTALS

IAS can assist various Not-for-profits organisations that received Government grants from both Federal or State if there is a requirement in the funding agreement to prepare an audit of the grant funds after it has been spent.

METAL STOCKCOUNT VERIFICATIONS

Bullions (Gold and Silver) – SMSF Investments/ Personal Needs

We provide independent verification of your precious metals including the valuation taken at face value as required by the ATO. The value is based on the 9am spot price at 30 June or on the day if you so request.

  • Callout Fee (Onsite): $100 plus GST
  • Audit Count Fee: $400 plus GST per fund

DUE DILIGENCE

A due diligence audit is an internally conducted audit of a company that seeks to ensure that the company is ready for sale.

  • Buyer Perspective: A due diligence audit will benefit the buyer in the sense that they will believe they made the correct transaction. They won’t feel like they were scammed when they sealed the deal, and they will have the assurance that making this purchase will come at a lower risk. 
  • Seller’s Perspective: A due diligence audit is important for the seller, as it will increase the buyer’s trust in them. While it may come at an extra cost at first, this due diligence audit will make it easier to seal the deal without any delays.

In the end, due diligence is an important part of making a transaction, no matter whose side you are on.

corporate compliance services

1.1 Corporate Secretarial Services
1.2 Registered Office Address

hR & Payroll services

1.1 Payroll Setup
1.2 Base Package Payroll Services
1.3 Onboarding/offboarding per instance
1.4 Annual Year End Reporting- consolidation of Payroll
1.5 Visa and Work Permit Application

accounting services and tax compliance services

1.1 Accounting Software Setup
1.2 Annual Financial Statements
1.3 Monthly Accounting & Management Reporting
1.4 Annual Audit Assistance
1.5 VAT Registration
1.6 VAT Filings (Quarterly)
1.7 CIT Registration
1.8 Annual CIT Filings 

financial audit

1.1 Auditing services

company formation services

1.1 Incorporation of an UAE Entity
1.2 Opening Bank Account!
1.3 Nominee services

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