Audit Auditors Fees Team

Outside of certain specialist companies, the need for a small company to have an audit has been largely eliminated. The turnover level has now been increased to £4.6m, and has removed many of the smaller entities that were previously required to have an audit. There are however benefits to an audit and some companies may wish to keep the audit process in place. It can protect shareholders and assist in the process of raising capital.

All members of the Audit Team have been put through internal and external training courses and are expected to be professional, polite and punctual at all times during the audit. Where possible, the same Team are used for subsequent audits giving our clients the opportunity to build a rapport and help reduce repetitive learning cycles that can often aggravate the client. Well, that's the theory!

A full review is made of all controls, and advice given where they can be improved. Repetitive tasks are highlighted and current working practices are looked at with a view to help streamline the flow of information. Schedules are prepared of all key expenditure and common suppliers are revived to determine if they offer the best value. An evaluation is carried out on the current business system (manual or computerized) to determine if it meets current and anticipated demand.

Similar to our other services, our Audit process is entirely configurable to your own requirements. Apart from the basic legal responsibilities of the Audit, you determine the extent of the health check. For example, you may choose to focus our energies on one particular area of the business each year and move on to the next once you are satisfied that part of the business is sound.

At the end of the audit, you should feel as if it was a worthwhile exercise, and the legal requirements, gave you an ideal opportunity to expand the scope of the audit in the form of an annual health check. The whole process has been much cheaper and less disruptive than if the health-check was carried out separately. If the process has given the business the "thumbs up", then all well and good. Keep on doing the right things! However, if areas of the business are under performing, then at least you will be in the position and armed with the best advice to do something about it! Either way, we hope you come to view the Audit more as an opportunity than an unnecessary expense to the business.

Contact us today or telephone on 020 8977 8704 to find out how we can tailor a package to compliment your business activities at a price that is guaranteed to be competitive. Give your business an annual service and extend the Audit to make it more meaningful to you!