Steadfast Group Limited A. Review of Consolidated Financial Statements In 1996, 43 independently-owned insurance brokerages joined to make an insurance industry where they belief to make the best quality advice and service. Through that Steadfast was born, an Australian owned and controlled enterprise (www.steadfast.com). The main business of the Group were the provision of services to Steadfast Network Brokers, the distribution of insurance policies via insurance brokerages and underwriting agencies and related services. In accordance with AASB 101, an entity shall disclose a description of the nature of the entity’s operations and its principal activities (Steadfast 2015 p.22, Directors’ Report – Principal Activities). In the 2015 financial year Steadfast Group Limited have the consolidated profit after tax attributable to the shareholders for A$42,104,000, which was increase from the previous year for A$17,017,000 in compliance with the standards of AASB 10 (Steadfast 2015 p.49, Consolidated Statement of Profit or Loss and Other Comprehensive Income). Furthermore, Robert Kelly was the Chief Executive Officer and he was the co-founded of Steadfast. He received A$2,018,394 for the amount of remuneration in 2015 and in accordance with AASB 1046 (Steadfast 2015 p.38, Directors’ Report – Executive Remuneration Details). …show more content…
Steadfast stated that KPMG was the auditor for 2015 financial year, and the audit services fees related in 2015 financial year is A$1,470,076 (Steadfast 2015 p.93, Notes to the Financial Statements – Note