Audit Account

While checking and verifying information is necessary, account auditing should be more than just a compliance exercise. We will work with you and your organization to detect and prevent any potential concerns, give assurance of the financial statements' figures, and do a general health check of the systems and checks in place.
Our account auditing team is led by a partner, and we take a personal, "hands on" approach to our clients. Members of the team contribute value to the audit process by utilizing their sector-specific knowledge.
A statutory audit will be necessary by law if you:

• You work for a PLC, a bank, an insurance firm, or a finance company (or a subsidiary of one of these)
• Your professional or trade organization requires you to get your accounts audited.
• Your stockholders aren't on board with opting out of the audit.

Companies (including LLPs) must undergo a statutory audit if two of the following three conditions are met:

• The company has a turnover of more than £10.2 million.
• The overall value of the balance sheet exceeds £5.1 million.
• There are more than 50 employees.

When their parent firm guarantees their liabilities, most subsidiary companies are likewise protected from audit.
Even if it isn't required by law, there are legitimate reasons to have an account audit:

• From the perspective of banks and commercial lenders, HMRC, and suppliers seeking credit reference, an audit report can improve the standing of your accounts.
• If you ever want to sell your firm or put it on the market, you'll need a history of accounting with clean audit reports.
• If you ever want to sell your firm or put it on the market, you'll need a history of accounting with clean audit reports.