Audit
An audit is an independent review and verification of the financial statements of your business. This adds a layer of credibility to your business accounts. The main advantages of having an audit are:
Assures the owner of the business that their accounts are accurate that there aren’t any material errors or omissions - this is of particular benefit if the owner is not involved in the day to day operations
Raising new sources of finance – many providers of finance, such as banks, invoice discounters, suppliers and credit insurers will require you to have an audit
Improve efficiency and profitability through identifying and advising on how improvements can be made to systems and controls
Can help reduce or deter instances of fraud
A statutory audit is mandatory for companies of a certain size. However, due to the advantages set out above, many of our clients voluntarily opt to have their accounts audited.
Please Contact Us if you would like to discuss this further.