Frederiks Accountants work with professional external auditors who are specialists in their field.
If your business needs auditing specialists we can arrange an audit assignment for:
- Self-Managed Superannuation Funds
- Trust Accounts
- Public Companies Limited by Guarantee
- Incorporated Associations
- Un-Incorporated Associations, and
- Business financial transactions.
Our nominated qualified auditors conduct their audits in accordance with Australian Auditing Standards. They have extensive experience in their field of expertise and are a valuable resource to our business.
Preparation of MFR Reports for QBCC
If you operate a Queensland building and construction industry business you will be familiar with your annual QBCC reporting requirement. As Certified Practicing Accountants, Frederiks may prepare Minimum Financial Requirements (MFR) Reports and assist building contractors applying for their QBCC licence.
From 1 January 2019 the Queensland Building and Construction Commission (QBCC) renewed the Minimum Financial Requirements policy. The regulations have been implemented with the aim to restore effectiveness of the MFR for licensing.
Our specialist accountants are familiar with the three main financial requirements that the QBCC will be checking, namely Net Tangible Assets, Current Ratios and Maximum Revenue. It is critical that your figures are analysed regularly (usually during the preparation of your financial statements) to confirm that you continue to meet your NTA and Current Ratio Tests. (Note the QBCC requires that you check you meet these tests at least quarterly)
We have a number of clients who are in the building and construction industry so we are well acquainted with these requirements.