In spite of the increases in the audit threshold many limited companies and other entities are required by law to have their financial statements audited. We are Registered Auditors and have experience in a wide range of businesses, from family-owned companies to large organisations, charities and other not for profit organisations.
Additional reasons for requiring an audit: If the company falls below the audit threshold they may require their financial statements audited for other reasons including fulfilling financing requirements, potential sale of the business or at the request of the shareholders.
Our audit / assurance services aim to provide you with confidence in the accuracy of your financial statements, and assurance as to the efficiency and effectiveness of your accounting procedures and internal controls. Our audits are completed in accordance with the international standards of auditing (UK and Ireland) and financial statements are prepared under UK GAAP or International Financial Reporting Standards.
PAYE / NIC Audit
We can carry out a comprehensive review of your payroll system including benefits and kind and expenses payments to identify areas where you may not be compliant with current tax legislation. By identifying such areas you can avoid unnecessary penalties and design and implement procedures to ensure ongoing compliance and minimum risk in this area.
This will entail carrying out a critical analysis of sales and purchases activities of the business.
We would also seek to identify VAT opportunities for cashflow planning as well as identifying any VAT exposures to assessments, interest charges and penalties. We can also consider any VAT implications arising from a clients' prospective business plans and objectives to make sure that VAT does not compromise these arrangements.
Such a review enables a business to take a pro-active approach to its VAT affairs and provides comfort in knowing that the business is VAT efficient, or provides an early warning with regards to exposure to VAT errors that could be costly if discovered by HMRC.