Every Australian Financial Services Licence holder has to lodge audited financial statements with ASIC each year, using Forms FS70 and FS71. ASIC does not grant extensions, so the audit has to be done on time. We audit licensees and get the lodgement in before the deadline.
An AFSL audit is the annual independent audit that holders of an Australian Financial Services Licence must obtain under the Corporations Act 2001. The audited financial statements are lodged with ASIC on Form FS70, with the auditor's report on Form FS71.
The deadline depends on the licensee's structure. A licensee that is not a body corporate lodges two months after year end. A body corporate that is a disclosing entity or registered scheme has three months, and other bodies corporate have four months. ASIC does not extend these dates, so a late audit means a late lodgement.
Holders of an Australian Financial Services Licence: financial advisers, fund managers, brokers, responsible entities and any business that operates under an AFSL and must report to ASIC each year.
It depends on your structure. If you are not a body corporate, two months after year end. A body corporate that is a disclosing entity or registered scheme has three months, others have four months. ASIC does not grant extensions, so we plan to land well before the date.
FS70 is the form that carries your audited financial statements to ASIC. FS71 is the auditor's report that goes with it. Both are lodged together.
Yes. Beyond the financial report itself, we address the financial requirements that attach to your AFSL, such as solvency, cash flow projections and net tangible assets where they apply.
Get in touch straight away. Because there is no extension from ASIC, the sooner we have your records the better the chance of lodging on time. We prioritise licensees who are close to their date.
Tell us about the entity and the financial year, and we'll come back with a fixed-fee quote within one business day.