Australia

Regulatory Audit 

Many organisations are obliged to obtain independent verification of financial and other information reported to regulators. Others voluntarily seek independent verification to avoid factual errors and the risk of non-compliance.

Robert Warren

Robert Warren

Partner

+61 2 9335 7563

Regulatory audits include, but are not limited to:

 

  • Australian Prudential Regulation Authority (APRA) assurance engagements in respect of compliance with prudential requirements and statutory reporting for Approved Deposit-taking Institutions (ADI) e.g. for Basel’s Standardised and Advanced ADIs.
  • Australian Securities and Investment Commission (ASIC) assurance engagements in respect of the adequacy of compliance plans for registered managed investment schemes.
  • Provision of assurance in respect of the Australian Financial Services Legislation audit requirements, as well as supporting companies to comply with the specific financial requirements relating to their licence.
  • Superannuation trustees and administrators rely on regulatory compliance audits and reviews to satisfy their complex compliance obligations required by APRA's prudential requirements and ASIC (by way of the Superannuation Industry (Supervision) Act).
  • Compliance audits and reviews can be required under insurance schemes such as the Fire Services Levy (NSW) and workers compensation.

 

How we can help

KPMG’s Audit practice assists clients fulfil a range of compliance obligations by conducting independent audits and reviews of financial information and other data.  We help our clients identify incidences of non-compliance and increase confidence in the integrity of the information, systems and processes under review.

 

Additionally, we second professional compliance and regulatory staff resources to non-audit clients during critical time periods or to cover for staff shortages.

 

KPMG’s Climate Change Accounting & Assurance Group assists clients comply with reporting requirements under the Australian Government’s Clean Energy Act 2011 and associated legislation including the National Greenhouse and Energy Reporting Act 2007.

 

We provide relevant services for Australian and other non-US companies, issuing and registering securities in the US, that are required to comply with the Sarbanes-Oxley Act.

 

At KPMG we seek to build and preserve the trust, respect and confidence of our clients by providing clear, relevant and timely advice.