AUDIT & ACCOUNTINGAccounts production is much more than just a legal obligation: it helps to protect a business and reassure shareholders about the reliability of the financial statements. We can tailor our approach to your audit and to your additional requirements, ensuring open communication, early warning and pragmatic solutions throughout the process. We are able to provide accounts preparation services to smaller businesses, and act for all types of business, providing assistance and adding value. Over the years we have built up specialist knowledge in combining taxation skill with audit and accounting.
Many businesses do not require audits. If that is the case, we can certify that the accounts we prepare for your business are properly drawn from your accounting records. Accountant’s reports can be particularly useful for businesses not requiring an audit, whether they are companies, sole traders or partnerships.
All entities of a certain size or of public interest are required by law to have their financial statements audited. Other entities may require an audit for different reasons, such as an agreement with shareholders to fulfil financing requirements.
All audits need to comply with International Standards of Auditing (UK and Ireland), with accounts being prepared under UK GAAP / Financial Reporting Standard 102 (FRS102) or International Financial Reporting Standards. We are highly experienced at providing these services for a range of UK and, international clients, ensuring that you fulfil your statutory obligations and file audited accounts in a timely manner. We also offer specific recommendations to aid both efficiency and performance.
Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C002530697.
SPECIAL PURPOSE AUDIT & REVIEWS
We also undertake non-statutory audit assignments and other specific reviews, all of which can be tailored to your individual requirements:
Completion Accounts Work
We can assist you in preparing, commenting on or reviewing completion accounts to help determine the final consideration to be paid when acquiring a company or assets. These are likely to be prepared with reference to the sale and purchase agreement.
Non-Statutory Audit Engagement
We provide independent audit assurance on the integrity of financial statements. We can also report on certain other quantifiable information to meet regulatory and other stakeholder requirements.
We can report on a particular component of the financial statements or confirm that they comply with a contractual agreement or regulatory requirement. Examples include:
As part of a loan agreement with a bank, it is normal for the borrower to be required to meet certain covenants on a regular basis – with the calculations verified annually or even quarterly. We can review the covenant compliance certificate prepared by the borrower, assist in reviewing projections for future covenant compliance and advise on the suitability of accounting policies.
Many retailers pay rent based on their turnover, especially those who lease units within shopping malls. As an independent auditor, we can certify the turnover reported to the landlord.