Independent Limited Assurance Reports (ILARs)

An independent limited assurance report (ILAR), also referred to as an investigating accountant's report, provides assurance in relation to historical, pro forma and/or forecast financial information included in a disclosure document (e.g. a prospectus).

ILARs are prepared in accordance with the requirements of the Auditing and Assurance Standards Board (AUASB).

How BDO can help

BDO is experienced in providing companies with ILARs to meet a range of requirements from initial public offerings (IPOs) and subsequent capital raisings to significant acquisitions and reverse takeovers.

BDO keeps clients informed of the latest disclosure document trends, regulatory changes, reporting requirements, insights and ideas to manage risk through the often complex and stressful processes that require disclosure documents.

Our services include audit or review of historical financial information, review of pro-forma financial information, review of forecast financial information and attendance / reporting to the Due Diligence Committee (DDC).

Our deliverables generally include:

  • Formal engagement letter detailing scope and agreed fee
  • Materiality guidance letter (sets out guidance with respect to the quantitative materiality thresholds for consideration by the company and the DDC for the disclosure document)
  • A presentation to the DDC on the work completed
  • ILAR (for inclusion in the disclosure document)
  • Sign off letter to the DDC
  • Taxation report to the DDC (provides tax sign off on the disclosure document).


If you require an ILAR, our technical skills and in-depth commercial experience will ensure that you receive the best advice to enable your transaction process to run as smoothly as possible.

We also have access to, and work closely with, the relevant local and international expertise within the BDO network where necessary to ensure that the work is completed efficiently and effectively.

Contact us

Contact our team to discuss your needs using the request for service form. Alternatively, call us on 1300 138 991 to speak with an adviser in your nearest BDO office.