Our audit team can help to identify areas of improvement within your business, whether by implementing strategies or improving efficiency.
An audit involves a thorough review of the company’s accounting systems and systems of control plus a detailed understanding of the company’s business. This helps to assess the increased opportunities to offer proactive business advice on many matters.
The main reasons why a company or LLP will be required by law to have a statutory audit are:
- The company is a PLC or a banking, insurance or finance company (or a subsidiary of one of these)
- You are required by your profession or trade organisation to have your accounts audited
- The company does not qualify as “small” under the Companies Act
Whether you are required to have an audit, or just elect to have one, we can make the process as beneficial and as hassle-free for you as possible. Good reasons for having an audit even if you are not required by law to have one include:
- An audit report can improve the status of the accounts in the eyes of the banks and commercial lenders, and suppliers who may be seeking credit references etc.
- A history of accounts with clean audit reports can also be a factor if ever you wish to sell the company or, perhaps take it to the market
- The possibility of fraud can be reduced and an audit can act as a deterrent
For UK companies that are part of an international group, our membership of the MGI Worldwide alliance offers cost-effective access to over 160 overseas auditing firms, who liaise with us to provide effective and professional services for the whole client group. To see how we can help your company with its auditing requirements, please email Tim Fulker or call 01494 552 145