Audit and Assurance
We take pride in being a registered audit firm, allowing us to perform statutory audits.
While audits are often perceived as compliance burdens, we view them as opportunities to add value to your business:
- An audit involves a meticulous examination of your company's accounting systems and systems of control, requiring a comprehensive understanding of your business. This in-depth review and knowledge can provide us with the increased opportunities to provide proactive business advice across various matters.
- Audits serve as a deterrent against potential fraud and help reduce the possibility of fraudulent activities within your organization.
- An unqualified audit report enhances the credibility of your accounts in the eyes of banks, commercial lenders, tax authorities, and suppliers who may request credit references, among others.
- A history of accounts with clean audit reports can also contribute to the attractiveness of your company in case you decide to sell or take it to the market.
By law, all companies are required to undergo an audit, unless it meets the audit exemption. Your company may qualify for an audit exemption if it has at least 2 of the following:
- An annual turnover of no more than £10.2 million
- Assets worth no more than £5.1 million
- 50 or fewer employees on average
Even if your company is not legally required to have an audit, we can still offer audit or assurance services tailored to your needs.
If you seek clarity on whether your company requires an audit or if you are already aware of the necessity and would like to discuss this opportunity further, please contact us today.