Some companies are required to have an audit carried out for statutory reasons (company size), due to stakeholder requirements (e.g bank, funders, shareholders) or as a constitutional requirement.
While audits can be seen as a burden, there are many benefits to having an audit carried out:
- An audit provides assurance to your stakeholders and potential investors that the financial statements present a true and fair view of the results.
- An audit, while not designed to uncover fraud and error, it is considered to be a legitimate deterrent.
- An audit can identify areas of weakness in internal controls which allow us to recommend effective solutions.
Our Audit team has vast experience in carrying out both statutory and non-statutory audits. This experience has allowed us to develop an audit approach that focuses on our understanding of your business and your needs in the most efficient manner.
Companies that meet certain criteria can avail of audit exemption. This does not eliminate the obligation to prepare financial statements though.
We can assist you with your obligations to prepare statutory financial statements, in accordance with financial reporting standards and company law. Using the most up-to-date software and checks, we can use your records to produce fully compliant financial statements.