Ian Jessup

Audit and Assurance, Forensic Accounting, Business Valuation and Litigation Support

"I enjoy the opportunity to work with a vast range of businesses throughout regional Queensland and have gained an appreciation of the unique positions and business goals of my clients. Dealing with an experienced practitioner maximises opportunities and allows the best result in given circumstances."

Ian is a Registered Company Auditor. With over 25 years experience in Audit, Insolvency, Business Reconstruction and Forensics in North Queensland, Ian is recognised as a quality specialist accountant with a deep understanding of the challenges and trends of the region.

After many years of commercial accounting experience, Ian entered the public accounting field and became a partner in a public accounting firm in Townsville, responsible for the Audit and Insolvency departments. Since 1997, Ian has practised as a principal with Jessups.

Ian has been a Registered Company Auditor since 1985 and in 2004 he received a Graduate Certificate in Forensic Studies (Accounting) from Monash University. Ian is recognised as an independent Expert on Accounting and other financial matters by the Supreme Court of Queensland and the Family Court of Australia.

In addition to audit, Ian assists his clients with turnaround strategies, restructuring arrangements, cash flow and sensitivity analysis, lender advisory and lending analysis reports. He also prepares expert reports for the Courts and other parties for family law, commercial disputes, damages assessments and other commercial matters.

As a born and bred North Queenslander, Ian has an acute understanding of the region and the issues particular to it. His industry experience is broad and extends across a number of sectors including agribusiness, financial services, property and construction, retail and tourism & hospitality.

Experience

  • Ian has held appointments as Internal Auditor of a number of regional government bodies, with responsibility to review internal controls, risk management and efficiency.
  • As auditor, Ian has assisted a major regional company through merger, IPO and ongoing ASX listing.
  • Ian manages an extensive portfolio of Self Managed Superannuation Fund Audits.
  • Ian holds appointments as auditor to major local businesses involved in the motor industry, financial services, retailing, civil construction and wholesaling..
  • Informally appointed to liaise between a lender and its client, an owner of a successful hospitality business and a commercial real estate portfolio. With the client’s loan to valuation ratios deteriorating and the lender wanting to avoid a forced sale, Ian was engaged to resolve the client’s financial difficulties. Ian negotiated to collectively put the majority of the client’s properties on the market, successfully isolating the client’s core hospitality business from impact by the commercial real estate portfolio. The client's core hospitality business continues today as a going concern.
  • Engaged as an Investigative Accountant by the creditors of Seafoodonline.com Ltd, a public company which had launched an Initial Public Offering to raise funds to build a facility to breed and grow coral trout. With builders of the facility owed considerable sums of money, Ian conducted an investigation which uncovered that the company did not have the technology to breed and grow coral trout (as claimed in their IPO prospectus) and was in fact insolvent. Consequently, the company Directors appointed a voluntary administrator and the company was formally wound up.

Services

  • Audit Services
  • Assurance Services
  • Business recovery services
  • Business advisory services
  • Forensic services

Industry experience

  • Agribusiness
  • Financial Services
  • Property
  • Retail
  • Motor Industry
  • SME
  • Self Managed Superannuation Funds
  • Tourism and Hospitality

Qualifications and memberships

  • Registered Company Auditor
  • Registered and Official Liquidator
  • Registered Trustee in Bankruptcy
  • Member of the Insolvency Practitioners Association of Australia (IPA)
  • Fellow of CPA Australia (FCPA)
  • Fellow of The Institute of Chartered Accountants in Australia (FCA)
  • Graduate of the Australian Institute of Company Directors (GAICD)
  • Graduate Certificate in Forensic Studies (Accounting) from Monash University
  • Bachelor of Economics in Commerce, James Cook University