UK companies over a certain size are required to have their annual accounts subject to statutory audit. In addition, many companies, though not required to have an audit, still find that it can provide valuable business information.
Audits are often required by banks or under the terms of company’s Articles, whilst some professional bodies, such as The Law Society, require solicitors who hold clients’ money to subject their client accounts to an annual audit.
We can help in all these areas. We are registered auditors and fully recognise the importance of professional standards when auditing a company's financial statements.
Although business owners traditionally regard the annual audit as a cost centre – a necessary evil that adds no value to the business – we strive to transform it into a profit centre.
Besides helping you meet your statutory requirements, we also take the opportunity to conduct a review of your financial and management systems.
Our audit often highlights areas where efficiency improvements can be made and costs reduced, adding to the profitability of the business.
In summary, you would benefit in many ways from our audit:
- You receive an accurate account of your true financial position.
- We have the opportunity to identify any potential areas of weakness in your business and advise you on appropriate remedial action.
- You may benefit from efficiency improvements or cost reductions highlighted by our audit.
- You have a professionally documented basis for future finance applications, reports, etc.
- You have peace of mind of knowing your accounts are in full compliance of statutory requirements.
- The overall image and reputation of your business is greatly enhanced by you being able to present a professionally prepared set of audited accounts.