An audit is an objective examination of your financial statements, carried out by an independent body; the purpose of which is to ensure that your records are being prepared correctly, and that the information presented within is fair and accurate.
We go beyond this when carrying out your audit, turning what is often viewed as a regulatory burden, into a useful review of your financial statements that can inform your decision-making, planning and internal controls. Our aim is to equip you with the tools you need to manage your business more effectively.
We offer a range of external and internal audit and assurance services, delivered by our expert audit team who have a wealth of specialist knowledge and experience working with organisations spanning various industry sectors.
If your business exceeds a certain size, you may be required to undergo an annual audit to fulfil statutory obligations. It is important that these statutory audits are performed by qualified audit accountants.
We can examine your records, statements and other evidence, providing a thorough audit to satisfy UK GAAP and UK law, whilst also leaving you with a clear picture of your financial position and an understanding of how effective your processes really are.
Grant audits are usually a way of grant providers gaining assurance that the funds allocated are being utilised in line with the underlying agreements, and normally have to be carried out within strict timelines and by an organisation independent from the recipient.
The work undertaken tends to differ depending on the grant providers, with the grant agreements often stipulating the level of detailed testing and frequency required.
Having worked within the grant audit sector for a number of years, and in this time working closely with national charities and organisations, we have the skillset and knowledge to help your organisation navigate the sometimes complex reporting requirements to help you remain compliant.
We have experience with both reporting for UK and European grants, specifically the EU LIFE grants and Darwin Initiatives.
We pride ourselves on working closely with our clients to ensure they gain the most from the auditing process.
Businesses that do not require a statutory audit or grant audit may still elect to undergo a voluntary audit, particularly if they are experiencing rapid growth.
A voluntary audit can help to satisfy lenders, to demonstrate credibility to shareholders and other stakeholders, or simply to strengthen financial discipline and governance within the organisation.
Our audit team is able to support Mortgage and General Insurance (MGI’s) firms with meeting their obligations under CASS 5, providing appropriate assurance reporting in relation to client money.
Academy Schools have control of their own budgets, and are independent from local authorities, meaning that the board of trustees is required to appoint an auditor.
Amongst our audit team we have specialist academies and education knowledge, and we deliver an audit and assurance service, that adds value beyond statutory compliance, to Academies and Multi-Academy Trusts (MAT’s) in Bedfordshire, Cambridgeshire, and Hertfordshire.
We ensure that the Academies we work with are compliant with the Companies Act and the Charities’ Statement of Recommended Practice, as the status requires, drawing out key data to help schools operate more efficiently and effectively.
Important to note is that, despite requiring both external and internal audit support, where Academies are concerned these functions now cannot be carried out by the same auditors.
We can act as external auditors, or indeed provide internal scrutiny assurance where we are not acting as external auditors, depending on the requirements of your institution.
Our approach to audit and assurance
Our audit and assurance service is designed to help you grow your business, whilst meeting the challenges of today’s business environment.
We take an efficient, pragmatic and robust approach to audit, building our service around an understanding of the particular risks you face, what you would like to gain from the experience and the solutions that could benefit your business.
Open, regular communication underpins our work, and we adhere to a pre-agreed timetable aligned with your expectations. We will proactively engage with you throughout the process, to provide reliable, quality advisory and analytical input and to leave you feeling equipped to make good business decisions.
Beyond audit, as one of our clients, you will have access to the knowledge and support that our wider team can offer, spanning everything from personal taxation and payroll to management accounting, corporate finance and process improvement.
Our experienced auditors, who operate from our offices in Biggleswade, Letchworth and Huntingdon, will help you to meet your obligations whilst adding real value to the process.
For more information about the audit services we offer to businesses in Hertfordshire, Bedfordshire, Cambridgeshire and nationwide, please contact us.
