Non statutory audit
Even though many businesses don’t need to have an audit by law, many business owners still choose to have one as there are tremendous benefits available. Indeed, there are strong commercial arguments for having an audit, such as getting the best price when you come to sell, keeping banks happy when you need help with finance, keeping credit insurers and suppliers happy, but most of all, giving you the comfort of knowing that you have strong controls and accurate results.
An audit’s no less valuable because it’s been forced upon you by law. You’ll end up with a wealth of information that can be used to fine tune your business and boost your profits to the max.
Our approach to your audit
As a firm we are highly proficient in conducting audits. The efficiency and effectiveness of our audits is based upon a practical, flexible and pragmatic approach to working with business owners.
Central to our audit approach is clear communication and discussion on any issues that arise as they are identified. This ensures a ‘No Surprises’ approach and the timely resolution of reporting matters.
We’ll ensure that we advise you of developments in accounting and audit standards at the earliest opportunity, in order that their impact on your business can be assessed and discussed.
We would conduct the audit in such a manner as to:
Communicate timetables and information requirements clearly in advance and keep to the timetable.
Agree any risk areas or areas of focus with you in advance to enhance audit quality. This provides the opportunity for us to examine and feedback on any areas that represent concern to the directors.
Ensure use of a consistent team across the process to improve efficiency and understanding.
Focus on risk areas and strike an appropriate balance between a substantive and controls based approach, while allowing for practical and useful feedback.
Provide a senior team with significant Partner and Senior input, to enhance the working relationship and drive quality.