Do you need accurate accounts provided on time?
We take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future. We do more than just repeat the history of what has already happened…
Do you know why you need an audit or why you should have one?
An audit involves a detailed review of the company’s accounting systems and systems of control and also requires a detailed understanding of the company’s business. We can advise you if you need an audit and if not, you can save on accountancy fees! However, we aim to deliver hassle-free audits and there are good reasons for having an audit even if you are not required by law to have one.
The following are the main reasons why you will be required by law to have a statutory audit…
You are a PLC or a banking, insurance or finance company (or a subsidiary of one of these)
You are required by your professional or trade organisation to have your accounts audited
Your shareholders do not agree to opting out of the audit
However, companies (including LLP’s) are exempt from having a statutory audit if they meet 2 of the 3 following conditions…
Your turnover is below £10.2 million
Your balance sheet total is below £5.1 million
You have less than 50 employees