QBCC Audit Lawyer | Financial Reporting – Notifiable Work Audits

QBCC Audit Lawyer

QBCC Audit Specialist Lawyer –

Lawyers Qld can advise on QBCC licensing including QBCC financial audits and QBCC notifiable work audits. Non compliance with QBCC audits can affect your QBCC Licence or result in a QBCC Licence ban.

Financial Reporting for Licensees

We are often contacted by clients facing a financial audit by the QBCC and an impending QBCC Licence suspension. QBCC Licensees can be required to report their financial information or continued compliance with the Queensland Building and Construction Commission (Minimum Financial Requirements) Regulation 2018 at certain times including:

  • On application for a licence;
  • Where the maximum revenue (MR) requires adjustment for categories 1-7, licensees within SC1 and SC2  will be required to provide the self declaration form; as outlined on Financial reporting requirements for Self-certifying Category 1 and 2;
  • Where the MR requires adjustment;
  • Where the Net Tangible Asset position has decreased by more than:
    • 30% for licensees within categories SC1, SC2 and categories 1-3
    • 20% for licensees within categories 4-7.
  • Pursuant to an approved audit program;
  • On expiry of the licensee’s Professional Indemnity Insurance Policy;
  • On request by the licensee;
  • Change of ownership of officeholders;
  • Restructure of partnership;
  • Change or withdrawal of Covenantors; or
  • At the discretion of the QBCC.

In practice a QBCC financial audit often occurs “At the discretion of the Commission” after the QBCC receives complaints from other Contractors or Trade Suppliers that a particular QBCC Licensee is failing to pay its debts promptly.

The result of the QBCC commencing a Financial Audit can often be the threat of an impending QBCC Licence suspension. This can lead to a lack of confidence in the Licensee by others in the building industry as well as existing customers and potential customers. This lack of confidence can result in the financial failure of the QBCC Licensee if the situation is not carefully managed and resolved as quickly as possible.

Lawyers Qld Building and Construction Lawyers are experienced in dealing with the QBCC on behalf of QBCC Licensees. Our goal is to help you comply with the QBCC requirements and take all steps to avoid your QBCC licence being suspended or cancelled.

Call now on Brisbane or Regional Qld 0730365233 or Gold Coast 0756770533 to speak with a specialist QBCC Licence Lawyer now.

QBCC Notifiable Work Audits

QBCC’s role is to ensure that plumbing and drainage work is performed to a high standard and to ensure this QBCC conduct Notifiable Work Audits.

When QBCC undertake a Notifiable Work Audit they can request that you provide documents and check that:

  • that forms have been registered correctly
  • whether you have the right licence and/or endorsements to carry out the work
  • whether the work complies with relevant legislation and standards
  • whether you have given the owner/occupier a copy of the Form 4

Local governments may also audit notifiable work within their region. They will generally target notifiable work which has a higher risk of non-compliance.

The licensee or owner/occupier may also contact the local government directly to request an inspection of the work.

Penalties

There is a range of penalties that may apply where a licensee performs work that is non- compliant, defective, or performed without an appropriate licence. Additionally, a local government may issue a defect notice if they find non-compliant plumbing and drainage work.

If local government issues a compliance notice, they will negotiate a time with you to rectify the work. Penalties apply for non-compliance.

For more information of QBCC Notifiable Work Audits go to the QBCC Notifiable Work Compliance page.