There are various reasons for having an audit of the financial statements. Statutory audits have to be performed where companies exceed certain turnover, staff and asset thresholds. In other cases an audit may be necessary because of the entity’s constitution and criteria embedded within the organisation’s regulations. As a firm of registered auditors, as well as helping individual entities meet their obligations, we can also support other firms of accountants by providing an outsourced audit service.
Over recent years the thresholds for statutory audits have increased, this means that fewer companies are required to have an audit and in turn that fewer accountancy practices provide this service. Audit is generally regarded as a specialism and it takes a lot of extra work, training and skill set to become registered auditors, this is something we are very proud to have achieved. In order to maintain our status as auditors, we are required to meet the stringent requirements of our governing body, the ACCA (Association of Chartered Certified Accountants).
Even if you have not exceeded the audit thresholds, you may be required to have an audit for a number of other reasons. Perhaps you are trying to sell your company and want to give potential buyers some greater reassurance, or that your bank, or other investors might stipulate that an audit is completed as a condition of borrowing. If you require an audit for any reason we can help.
In addition to providing audit services to our own clients, we can also work with other accountancy firms that do not hold their own registration. This means that if they have clients who need an audit, rather than having to tell the client that they are no longer able to act, they can outsource just that one element to us and retain the rest of the work themselves. We understand that by inviting us to work with their clients, they are placing their trust in us. We are highly professional in all matters, but particularly sensitive when undertaking this type of work to ensure that the other accountants can have the confidence when entrusting their clients to us.
We are very interested to hear from you and to discuss the possibility of working together in the future. Whether it be for completion of a personal tax return or for the audit of company accounts and everything in-between, we would like to take the time to understand you and your business needs from the outset. Until we understand more about you, it is difficult to help you understand more about us and how we can help you. Our structured consultation process will help us to provide you with a clear and transparent quote of our fees and pricing structures.