Gaining the most benefit from the audit process
Most small and medium size businesses, consider a statutory audit as a necessary evil that needs to be undertaken to meet legislation with little or no value to them as an owner. Successive legislation has recognised this and continues to relax the need for an audit of small businesses.
Despite this, there are some small businesses that fall within the annual audit requirement or some voluntarily request an audit, in order to benefit from the financial assurances it provides.
Whatever the reason for undertaking the audit, Numerion Associates are registered to carry out audit work by the Institute of Chartered Accountants in England and Wales. We tailor our approach not only to comply with the statutory obligation, but review practices and accounting systems to determine if it meets current and future requirements.
We take the audit process as an opportunity to identify potential problem areas and recommending opportunities to improve your business performance. We believe that the audit process should add value to your business and keep interruption as well as cost to the minimum.
In particular we will;
- Work closely with you to keep disruption to a minimum with an agreed timetable.
- Take the time to understand your business and the environment in which you operate.
- Identify the risk associated with your business and focus on key areas.
- Evaluate the effectiveness of internal controls.
Our audit expertise extends to;
- Preparing statutory accounts prior to the audit.
- Audit of UK subsidiaries of overseas parent companies.
- Advise on whether an audit is required and the specific benefits to your business.
Specialist Assignments – Solicitors
Numerion Associates have many years of experience, acting as accountants for solicitors. Our clients range from sole practitioners, partnerships, through to alternative business structures.
Our expertise includes:
- Preparing accounts and tax returns to meet the requirements of HM Revenue & Customs.
- Advice and guidance on maintaining adequate accounting records including setting up a computerised accounting system.
- Preparing Accountants Report under SRA Accounts Rules.