Australia’s Leading AFS Audit Service Provider


Professional Audit Services For AFS Licensees & Accountants

with Limited Access

If you are an Australian Financial Services Licensee, your financial statements will need to be audited by experienced and qualified auditors. Compliance requirements will need to be examined, as well, in order to ensure that your practice conforms to the established regulations.

Specifically, this pertains to AGS 1068 under the Corporations Act of 2001, which requires AFS Licensees to following the guidelines:

“Section 989B of Part 7.8 of the Corporations Act requires an AFS licensee to lodge a profit and loss statement, balance sheet and auditor’s report with ASIC for each financial year.

Regulation 7.8.13(1) of the Corporations Regulations 2001 requires that for subsection 989B(3), the auditor’s report on the profit and loss statement and balance sheet in respect of a financial year be lodged with ASIC in the prescribed form.

ASIC requires the profit and loss statement and balance sheet and notes to the Statement of Financial Performance and Statement of Financial Position to accompany ASIC Forms FS70 Profit and Loss Statement and Balance Sheet and FS71 Audit Report.”

Ensuring the credibility of the auditing process will require independence, as well, and has to be done by experts who know the law and the relevant regulations.

Are you a holder of an AFS Licence? Do you need help with auditing your financial statements? If so, reach out for a conversation to see how we can help you. 

    AMW Audit has many years’ experience in auditing

    AFSL individuals and companies

    Why AMW Audit Is Perfect

    For Your AFSL Needs


    The improper auditing of the financial statements and regulation compliance records of an AFS Licensee could result in harsh legal penalties. AMW’s auditors are well-trained and licensed to handle AFSL auditing work for guaranteed high-quality reviews and assessments.

    They can competently compile the necessary documents needed for the audit. From there, the details are examined and reviewed for any issues with regulatory compliance.


    Guaranteed Independent Audit

    In order to establish the credibility and trustworthiness of auditing results for AFSL financial statements and records, it must be done independently. As an audit-only firm, AMW Audit can guarantee that there will be no conflict of interest with regard to AFSL activities of any kind.

    Licensed and Experienced Auditors

    We can guarantee that the results of our audit will accurately reflect all of our findings based on the financial statements and records that we receive from you. Our team of experienced auditors are equipped to help AFS Licensees, as well as accountants with limited access, with reviewing their financial statements and compliances records. 

    Our auditing process, which we have refined for over 40 years in operation, allows us to conduct examinations and reviews with efficiency and professionalism. We also work closely with our clients to ensure that the process goes as smoothly as possible and prevent any miscommunication. 

    Efficient and Effective Auditing Process

    AMW Audit has decades of experience handling AFSL auditing cases, as well as other types of financial reviews. As an audit-only firm, our specialization is quite straightforward and encompasses a multitude of areas where AFSL requirements are concerned. 

    We are up-to-date with our training and are always keeping abreast of any changes that occur with regard to regulations and AFS practices. Our auditing process itself has been simplified and streamlined to ensure that all requirements are met and all figures are accounted for. 

    Australia’s Best AFS Audit Service Provider

    At AMW Audit, we have a highly experienced team of auditors ready to help you review and process your AFS financial statements to make sure that you are compliant with regulations. Our services ensure that your records are audited by qualified specialists to achieve results that are accurate, timely, and transparent.

    AMW have been our preferred audit firm for SMSFs and other audits for many years. We have always been impressed by the team’s expertise and understanding of auditing issues.



    AMW AFS Audit Solutions

    The auditors that we have at AMW Audit are highly trained and qualified for handling AFS auditing cases. We employ a strategic process that will ensure maximum efficiency and reduced delays in producing results. We also ensure that our clients are provided with a complete list of all necessary requirements to avoid miscommunications. 

    Obtaining Year End Journals 

    Getting the year-end journals and processing them will be necessary to get the process for the final audit started. Among the details that we will be looking into will include the provision of bad debt, as well as the allocation of assets that have been purchased. During this step, we will be referring to your general ledger in order to examine select transactions. 

    We will be reviewing supporting documents such as invoices, bank statements, payrolls, and the like for yearly comparisons to ensure data integrity, as well. 

    Balance Sheet Audit

    We will be using supporting documents from third parties in order to conduct an audit of the balance sheet at the end of the year. All material balances will need to be verified and the debtor recoverability, along with creditor completeness must be assessed. 

    GST liabilities can even be tested in terms of reasonability while loans can be confirmed. 

    Meeting Minutes Examination 

    AMW Audit’s team of specialists will be going through the minutes of meetings that you send over in a meticulous fashion. We will need to make sure that everything discussed and all decisions made will correspond to the details provided by financial documents. 

    This will be included in the “audit preparation” documents that we will be sending you when you want to engage our auditing services. Sample transactions will only be taken once the audit process is already underway. 

    Once the final audit has been completed, the FS70 and FS71 forms will be filled out and submitted to the ASIC. 

    AMW Audit’s services can also be conducted either in our offices or in the place of business of our clients. This would depend on the size of the audit itself and the amount of paperwork that our auditors will need to sift through.

    We will always be upfront with the quotes that we provide with regard to our audit fee.

    We would highly recommend AMW service – they are well priced, both practical and reasonable in their approach to small AFSL holders, and efficient at turnaround times.



    Contact Us Now For A Professional Online AFS Audit


    For the best AFS audit services, contact AMW Audit. We will accommodate your needs and provide you with the professional assistance you are looking for. Our licensed and qualified auditors are ready to help you process your financial statements and records as an AFS licensee

    Please book a call with our team today on 1300 284 330.

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