With inflation seemingly reaching its peak and access to capital starting to improve, there may be a number of different reasons why your business requires an audit of its financial statements for the first time.
Australia’s aged care system delivers essential services to meet the diverse needs of the ageing population. Residential aged care, community care, and retirement villages are crucial for ensuring the future well-being of Australians.
As demand for both permanent and respite senior living options grows, providers must continue to meet this demand while building trust within the community. This is in addition to the daily challenges of running a business, including financial management, staffing, IT processes and operations while operating in a highly-regulated and ever-evolving regulatory environment.
How we help clients
At HLB Mann Judd, we understand the challenges and opportunities facing the senior living industry across Australia. To demonstrate our commitment to the industry, we have state-based specialists who provide tailored accounting and financial services to both not for profit and corporate organisations operating residential aged care facilities, community care centres and retirement villages.
Our professionals stay up to date with relevant state and federal legislative changes affecting aged care, ensuring that our clients can understand and plan for the implications. This includes in-depth experience and knowledge of compliance and reporting requirements under the Aged Care Act and Retirement Villages Act.
Some of the ways we provide support to aged care owners and operators include:
- Financial audit services including audit of financial reports and compliance audits
- Reporting requirements to ASIC and other government agencies
- Conduction due diligence reviews
- Internal audits and review of operational performance
- Risk management services including advice on compliance, strategic and emerging issues
- Corporate governance and reporting to the board
- Financial modelling and cashflow forecasts
- Preparation of statutory and management financial accounts
- Onsite accounting and payroll services
- Tax strategies and preparation of income tax returns
- Business valuations and business succession planning
- Business acquisitions, future disposals and exit strategies