Accounting services
Audit and assurance
All accounting services:
If your company or organisation meets certain criteria, it may have to have its accounts audited – known as statutory or compulsory audit. Others choose to be audited voluntarily because they understand the value of the process. Either way, we’re committed to delivering efficient, professional audits that provide the right level of challenge without being unnecessarily disruptive.
If your incorporated business has an annual turnover of more than £10.2 million, assets worth £5.1 million or more and has more than 50 employees, it’s likely you’ll have to get audited. Charities with annual income above £1m, or above £250,000 along with assets of more than £3.26 million, are also required to arrange an audit. Smaller charities have to undergo an ‘independent examination’. If you’re unsure whether you need an audit, talk to us and we’ll help you navigate the rules.
The purpose of an audit is to provide assurance that your accounts paint a ‘true and fair’ picture of the performance of your business or charity. It will highlight problems with processes and where there is a risk of fraud, for example. It gives your shareholders, investors, lenders and other interested parties confidence. At the same time, it also provides management with opportunities to make the business stronger and more resilient.
You might also want an audit as part of the process of a merger or acquisition. Ensuring that one or both parties are in good financial health, and that the accounts represent the reality of the situation, is vital if you want to be sure the project is viable or negotiate terms.
We’re proud of the quality of our audits. On the one hand, they’re scrupulous, rigorous and truly objective. On the other hand, they’re carefully planned and well organised, with a commitment to efficiency. You’ll find our audit teams expert and experienced and always professional in their approach. And our audit outputs are second to none in terms of their clarity and practical value.
Contact us today for further advice on audit, or if you have any questions about how our audit service works in practice.
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