Whilst an audit fulfils a statutory requirement it can do much more.
An Audit gives confidence in the financial statements of the business by getting to the heart of the matter in order to present a true and fair opinion of the accounts.
In order to make the most of the audit process we need to fully understand you, your business and the environment in which you operate.
We look to conduct the audit in a timely fashion, close to your year end. We will plan and agree a timetable with you to make sure that the audit fits with your reporting timetable. We will make sure that it is run and managed smoothly. We will discuss the process with you or your management team before, during and after. It should be a no surprises process. Any issues that we find will be discussed immediately and dealt with so that there aren’t any bombshells to be dealt with.
The values that can be obtained from an audit are that it can challenges business managers with ‘awkward questions’ and look at the business in a different way. This may mean spotting issues, early warning signals being picked up or emerging risks identified. The whole process can provide management and shareholders with a deeper knowledge, understanding and insight into the business.