KNOWLEDGE + EXPERIENCE

that delivers

PROCESS + TECHNOLOGY

that connects the dots

RESULTS + PERFORMANCE

that evaluates the facts


Farmilo & Co Audit Professionals

FARMILO & CO is a firm of professional accountants specialising in audit management, with head office located in Penrith and a developing presence in the Blue Mountains.

If you wish to grow your business and need other strategic or organisational services, such as business advisory, general accounting taxation services, also our consulting business unit which is involved in supply chain and digital media projects and initiatives specifically targeting SME’s, we heartily recommend that you visit Beyond Financial Group (BFG).

We welcome you to our website and invite you to find out how you can benefit from our services. Before acting on any ideas expressed on this site please read our website disclaimer. If you have any questions, please do not hesitate to contact us.


Review & Planning

With senior management, identify key audit tasks and activities with significant focus on risk mitigation prior to commencement of audit.

Communication & Collaboration

During the audit process continually update senior management with the progress of the audit, in particular noting any deficiencies found in the financial system and/or any possible improvements for their attention.

Insights & Conclusions

At the end of the audit process present the audit findings to senior management and Board. Discuss any issues relevant to the audit findings. Provide a management document to the Board for their consideration and appraisal.

Presentation at the AGM

Attend the AGM and present to key personnel of the organisation the results of the audit answer any opinions, questions posed by the team.




Client Audit Journey

Is it reasonable to suggest success is a journey! Farmilo & Co has a rich understanding of the significance of the audit process and this is the result of gathering knowledge and experience over a past 20+ years. It’s also easy to suggest that Audit and Mundane may travel well together however the wellbeing and future of an organisation is definitely part of the Audit process. To articulate the purpose of an audit relative to the interests of shareholder, appointed board members, business owners and even employees simply, focusses attention on accountability, responsibility and ground zero facts related to good business practice. The audit process could easily be identified as a health-check that supports the ongoing wellbeing of the organisation.


CONTACT US

Farmilo & Co Audit Services

Trying not to be too general, Non-Profit Organisations will usually be run to provide specific programs and services for the benefit of the community. Examples include counselling and other welfare, childcare services and the like.

We have direct experience in this area with a number of clients in the counselling and welfare and childcare arenas and are fully aware of the difficulties and frustrations these organisations face in administrating their services.

Typically Non-Profit Organisations receive grant funding from government bodies and have some support from private individuals and are incorporated under the Associations Incorporation Act 1984 (NSW).

Accordingly, the Non-Profit Organisation will typically be required to have their financial statements audited under the Act as well as under the contractual requirements of the funding agreements.

Greg Farmilo, as a registered company auditor is qualified to sign off the independent auditors report for Non-Profit Organisations.

  • Non Profit Experience
  • Counselling Organisations Experience
  • Contractual & Funding Experience
  • Registered Company Auditors
  • People, Process & Systems Alignment
  • Revenue, Cost & Productivity Knowledge

Most Indigenous Organisations are incorporated under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (C’th) and regulated under by ORIC (Office of the Registrar of Indigenous Corporations). However some of the larger and/or older organisations are incorporated under the Corporations Act 2001 (C’th) and regulated by ASIC (Australian Securities and Investment Commission).

We have provided audit services to Indigenous Organisations since 1996.

Typically Indigenous Organisations receive grant funding from government bodies and have some support from private individuals or agencies.

Accordingly, the Indigenous Organisation will typically be required to have their financial statements audited under ORIC or ASIC as well as under the contractual requirements of the funding agreements.

Greg Farmilo, as a registered company auditor is qualified to sign off the independent auditors report for Indigenous Organisations.

  • Extensive Indigenous Experience
  • Audit Services Since 1996
  • Contractual & Funding Experience
  • Registered Company Auditors
  • People, Process & Systems Alignment
  • Revenue, Cost & Productivity Knowledge

Private Companies are incorporated under the Corporations Act 2001 (C’th) and regulated by ASIC (Australian Securities and Investment Commission).

We have wide ranging experience in auditing these companies for a number of specific and general purposes, including:

  • Auditing the financial statements on a regular basis for the purposes of the company reporting its results to an offshore parent company.
  • Auditing the financial statements for the specific purpose of releasing the results to a potential investor / purchaser of the company.
  • Auditing the financial statements of the company in accordance with ASIC guidelines as a defined private ‘large’ company.

Greg Farmilo, as a registered company auditor is qualified to sign off the independent auditors report for Private Companies.

  • Extensive Private Company Experience
  • Local & Offshore Experience
  • ASIC Guidelines Experience
  • Registered Company Auditors
  • People, Process & Systems Alignment
  • Revenue, Cost & Productivity Knowledge

Self Managed Super Funds, commonly called SMSF or DIY Funds, are regulated by the Australian Taxation Office. Each Fund must be audited before the income tax return is lodged, noting the details of the auditor and certain aspect of the audit disclosed.

There are significant penalties if an audit is not undertaken.

Farmilo & Co currently provide audit services to a number of accounting firms in relation to the audit of superannuation funds of their clients. In this respect we advise that Farmilo & Co is an audit only firm and can sign off confidentiality agreements with accounting firms. Engagement letters are provided to the trustees of each fund explicitly stating that only audit services are provided.

Greg Farmilo as a Registered SMSF auditor, is qualified to sign off the independent auditors report for superannuation funds.

  • SMSF & DIY Funds Experience
  • Accounting Firms Client Experience
  • Farmilo & Co, Audit Only Company
  • Registered SMSF Auditor
  • Engagement Letter Provided
  • Confidentiality Agreement Provided

Farmilo & Co has experience in examining solicitors trust accounts since 1993.

We advise Greg Farmilo, as a registered company auditor is suitably qualified to examine a solicitors trust account in accordance with the legislation and is registered with the Law Society in NSW as an examiner.

  • Extensive Trust Account Experience
  • Law Society Experience
  • Trust Legislation Experience
  • Registered Comapny Auditors
  • Engagement Letter Provided
  • Confidentiality Letter Provided

Farmilo & Co Audit Process

An overview of the key components of our audit process


Review

Understand the scope, complexity and information required

Consolidate

Gather all information from related organisational resources

Construct

Develop a detailed map of all financial activities

Report

Present a detailed report with key findings and observations


What Our Clients Say

  • Farmilo & Co provides the independent auditing of our annual financial statements. Their approach is professional, yet friendly, and allows us to provide audited reports to our investors set at the level required by the international accounting standards.

    David Allen
    Director, Premier Steel Technologies Pty Ltd
  • Very professional. Very sensible. Solutions – not more problems.

    Ralph Scott CA, CEO
    Sydney Regional Aboriginal Corporation Service