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WHO NEEDS TO BE AUDITED

Auditing reports will indicate if your financial position is “true and fair.” Under UK law, your company is required to have a yearly audit by independent, registered auditors if:

You have a turnover in excess of £5.6 million or
Your company owns net assets worth £2.8 million or more,
Your company shareholders do not wish to opt out of the audit.
Your trade, profession or industry requires that you are audited.
Your company is a public company.

An audit is not required if the company can satisfy at least two of the following:

An annual turnover of no more than £10.2 million
Assets worth no more than £5.1 million
50 or fewer employees

THE VALUE IN GETTING IT RIGHT FIRST TIME

If you choose the wrong accountant to prepare your accounts and red flags are raised at the end of the process, the auditors will make recommendations for what needs to be fixed. You may need to go through the auditing process again after revisions are made, which can be expensive, as auditors charge by the hour.

WHY USE US

We have more than 15 years experience as both registered, independent auditors and as experts in ensuring your company accounts are audit-ready. Contact us today to discover how we can help smooth the audit process for you.

Why are Audits important?

Having your financial position being confirmed as being true and fair has a number of uses including:

Reassurance for your investors, shareholders and other key stakeholders.
Peace of mind for company directors and accountants.
Helpful information to industry regulators.

Financial analysts use audit information to help them assess the value of your company shares and hence the value of the company.

Contact us Today and Receive a Free Tax Service. Let's talk about how we can help you

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