Audit and Assurance

ICAEW - Institute of chartered accountants in England and Wales logo

As Registered Auditors by the Institute of Chartered Accounts in England and Wales we are permitted to perform Statutory Audits on Financial Statements.

Though business owners traditionally regard the annual audit and preparation of annual accounts as a cost centre - a necessary evil that adds no value to the business - we strive to transform it into a profit centre.

Besides helping you meet the statutory requirements, we also take the opportunity to conduct a review of your financial and management systems. This can often result in our identifying potential problem areas and recommending opportunities to improve your business performance. We discuss the problems and opportunities with you and help you implement any agreed solutions.

The preparation of accounts coupled with a rigorous audit are at the core of services we provide. We take a hands-on approach to helping directors or business owners fulfil their responsibilities to prepare and submit accounts to Companies House, HM Revenue & Customs and other regulatory bodies.

In addition, a set of professionally prepared accounts will often be required by creditors, banks and other financial institutions in support of applications for credit facilities.

Our technical expertise is complemented by commercial awareness and sector-specific knowledge that means we can present your accounts and annual report in a way that creates a positive image of your business.

The format of accounts and the interpretation of financial reporting standards are exacting and complex. Our partner-led teams will ensure that your accounts comply with all current requirements. Advanced software ensures that the process is highly efficient so that we spend more time interpreting the results and less on processing the numbers. This enables us to identify potential problem areas and spot potential opportunities to improve your business performance.

For those businesses requiring an audit, the key to its effectiveness is:

  1. Getting to understand your business at an early stage
  2. Reviewing your business processes and financial and management systems
  3. Testing the effectiveness of those systems
  4. Discussing any problems and opportunities with you
  5. Helping you to implement agreed solutions

The audit process often identifies areas where further detailed work may be required including tax planning and compliance in areas such as benefits in kind or VAT. We can bring in expert advisors from our specialist teams to review those areas and provide top quality advice accordingly.

Assurance engagement

Business Assurance services provide organisations with robust evidence that their financial controls are operating efficiently and effectively.

We deliver an array of specialist services, including internal audit and risk management advice, which assure board members, trustees, and directors that the financial governance of their organisations is rock solid and legally compliant.

More than this, we ultimately act as a catalyst for change and assist in managing the change process.

Our Business Assurance service provides a top-down internal audit, focusing on key business risk areas and taking into account the organisation’s strategic objectives. Our specialist teams work exclusively on internal audit assignments, while bringing deep technical knowledge from other sectors and disciplines.

Partnering techniques involve us operating seamlessly with a client’s in-house financial team, supporting its members, while enabling them to benefit from our experience and skills. Our service includes:

  • We can review and advise on the effectiveness of governance systems, which is especially important in light of the Turnbull guidance on listed companies. In the public and RSL sectors, Nolan and Hancock has underscored the need for high levels of accountability, transparency and integrity.
  • The increased use of risk management as a business improvement tool means board members must better understand the full extent of their organisation’s activities. We provide an objective, independent overview to ensure that any risk management process is rigorous.
  • Control Self-Assessment (CSA) is hailed as the best solution for internal audit. We work directly with management to implement programmes or train internal audit teams to use CSA programme techniques.
  • The continued development of staff, management and board members is crucial to the success of any organisation. We run bespoke training courses for organisations across the broadest spectrum of sectors.
  • Our consultancy team adapts its structured methodology to individual consultancy assignments, ranging from due diligence work to value for money studies and fraud investigations.
  • Best Value in the public sector raises the issue of continuous improvement. For RSLs, we run a Benchmark Club have been instrumental in helping many clients to draw up their Best Value action plans.
  • For computer assignments we have access to a network of specialist IT consultants who provide expert assistance on a range of software and network capabilities.

Require more information?

If you would like more information or would like to speak to us direct then call us on 020 8863 3337. Or if you would prefer, ask us a question online.