An annual audit is not simply a costly and time-consuming accountancy requirement or a legal document to be promptly filed away in a cabinet and forgotten.
Audits provide a cornerstone to financial reporting: they can be a crucial barometer of just how well your business is really doing. The audit is an opportunity to really take stock, evaluate and make plans, to discuss wider issues using benchmarking and make careful consideration of the wider economic context in which you operate.
We always aim to present your audit as a well-crafted showcase of all your hard work and enterprise. We believe an audit is not an end point, but a starting point. It should be a chance for you to critically reflect on your business - making it a highly effective tool in further developing your enterprise.
It should form part of an ongoing dialogue between you and your accountants about the way your business is progressing. This concept really underlines how we like to work with all our clients - all the year round. It is one of our core values. It is important to your business: any audit should be based on a good collaborative working relationship with your accountant, and should underpin your business venture and values all year round.
An audit involves a detailed review of the company’s accounting systems and system of control and also requires a detailed understanding of the company’s business. Such a review and knowledge can provide increased opportunities to provide proactive business advice on many matters.
Think of the people who may read it: potential investors, clients, funding agencies, creditors and also your own staff.
An audit report can improve the status of the accounts in the eyes of the banks and commercial lenders, the Taxman and suppliers who may seek credit references, etc.
A history of accounts with clean audit reports can also be a factor if you ever wish to sell the company or, perhaps, take it to the market. The possibility of fraud can also be reduced and an audit can act as a deterrent to any potential fraudster.
Our approach enables us to deliver practical business insight, and an assessment of financial and business risks, covering:
- Statutory Audit
- Voluntary Audit
- Charity Audit
- Solicitors Regulation Authority Accounts Rules Reports
- Pension schemes
- ABTA Audit.
You work very hard in your business - we see our job as making your audit work really hard for you.
It should be worth every penny you spend. It could save you a great deal of money, but just as important, perhaps, also help you to avoid a great deal of wasted time or effort - if effective strategic planning is the end result.
Of course, it always needs to be underpinned by accurate information and a thorough understanding of your business. It also needs a wider solid understanding of the particular sector in which you operate.
Many business areas are now regulated by specific legislation or rules. These are constantly being updated as the working environment changes - the business world is never static. New areas of concern such as the environment and sustainability are being introduced. Consumer attitudes are changing. Having a large number of clients in specialist areas means we have a broad range of experience we can draw on.
We have particular expertise in the following sectors:
- Healthcare and pharmacy
- Care industry - nursing homes
- Internationally successful groups with overseas subsidiaries and associated companies
- Food supplies – groups with overseas group undertakings
- Science-based group companies with considerable Research & Development and overseas subsidiaries and undertakings
- Engineering and construction
- Property development
- Sectors covering retail and wholesale sales of beauty products, etc.
Internal audit and risk management
No two businesses are the same. All our accountancy solutions are customer focused and tailor made for you. We can review your credit control, stock control/valuations, budgeting and financial reporting so you feel really confident in all these key areas, helping you manage the correct level of flow of both stock and finance as it moves through the system. Important fine tuning of the business engine adjusted specifically for you.
Our aim is always to achieve best practice but our method is listening and learning before we act and advise.
We can help you to plan, manage and mitigate against any risk factors in your particular circumstances.
Our risk services include:
- Setting up risk management controls
- Advice on risk management software if required
- Creation of a risk profile
- Running risk management courses.
We can also prepare accounts for all types of business, from sole traders to partnerships and limited companies.
Our services will help to reduce the administrative burden, allowing you to concentrate on running your business, while giving you peace of mind that your accounts and returns are in order.
To find out more, please contact us.