Audit & assurance

Knowing how you stand

It pays to have an annual audit. Whether or not your business legally needs one, it helps you keep on top of your finances so you know where you stand. It avoids conflicts of interest. It adds credibility to your business. And it helps you sleep at night.

Over the limit?

As registered UK auditors we can help you satisfy your statutory responsibilities if your business is of a certain size and your financial statements need to be audited. For regular trading companies this is necessary if your turnover, gross assets and number of employees exceed certain set limits.

We can help you discharge your responsibilities under the Companies Acts in a cost-effective and easy way.

Special cases

Some entities require an audit regardless of size – and we can help by undertaking audits in any of these specialised areas:

Charities

Pension schemes

Public companies

Organisations regulated under Financial Services Regulations

Insurance companies

Industrial and provident societies

Friendly societies

Building societies

Solicitors

Chartered surveyors

Estate agents

Subsidiaries of overseas companies

Travel agents

Registered social landlords

Landlords registered under the Landlord & Tenants Act

Environment and recycling

Even if your business doesn’t need an annual audit, a specialist audit report may be required. You may need an audit report to satisfy conditions of a grant application or if you are seeking other specialist finance. We can help you satisfy these requirements in a cost-effective way.

No panic

We don’t believe in leaving things to the last minute. Rushing around to find documents and get papers signed isn’t good for your blood pressure. So we’ll get your audit done as soon after your year end as practical – so you can complete and move on to even more important things.

Why an annual audit makes good sense

Having your accounts audited every year makes good financial and commercial sense for a whole lot of reasons. Here are just some of them:

Audited accounts, in our experience, are less likely to be subject to HMRC enquiry

They send a message of sound financial control and credibility

They can help if you’re looking to attract outside or equity finance

They can help you make sure your systems are operating correctly, and spot any weaknesses

They bring to light any “going concern” issues sooner rather than later

They provide reassurance to shareholders who may not get involved in day-to-day finances that the company’s financial statements are reliable – and that there’s a reduced risk of fraud

They demonstrate to potential purchasers that you have a serious and well run business if you’re preparing for sale or merger

They provide information that may be needed by specialist suppliers

They add credibility for bankers or lenders, especially if your company is bound by banking covenants

Family businesses

In many small businesses there are often several members of a family in key positions. This can potentially lead to conflicts of interest, rivalry, and poor management control. As an independent party in our role as auditors, we can look at the business objectively and help manage any tensions.

This often provides a valuable service in removing conflict, bringing better governance and control, and ensuring the credibility of the financial statements that are issued to all members.

Ensuring compliance

It’s in your interests to ensure that you’re fully complying with your statutory responsibilities. Our team of experts can evaluate your processes, and help and advise you on issues such as internal controls, whether you’re following correct UK GAAP procedure, IAS implementation, risk assurance and governance.