News & Press

At the end of each financial year the directors are required to prepare financial statements for that year in accordance with company law and accountancy standards. Those financial statements may be subject to an audit because it is a...

Auditors fail to report with clarity and relevance The data extracted during an audit is like a food recipe, though many firms utilize high quality ingredients quality is not guaranteed. This is because auditors fail to combine these...

Failing to be audited when you should have been can result in legal action.  Therefore, getting it right at the outset is essential. The following companies always need to be audited: Non-dormant subsidiaries of public companies ...

A foundation CIO is a legal entity specifically intended for non-profit organisations. Its only members are the trustees. Quite uniquely a foundation CIO is registered with the Charity Commission only, and not with Companies House. Setting up...

Company audits can be a complicated process if you have never been through one before and you may have a lot of questions about the audits and the auditing process. At Wisteria we have several years of experience of processing company audits...

Introduction to audits The UK economy continues to perform well and although the true impact of Brexit is still unknown, a weak pound has made Britain a cheaper place to invest for overseas companies. If you are an overseas company looking...

A typical situation exists where a foreign ecommerce company needs to segment its payment processing in order to protect its ability to collect money from its clients. Reasons for doing so vary: Spreading the chargeback risks across a...

For business owners and key management staff, an audit is often seen as a necessary evil, a box to be ticked in order to satisfy compliance. In fact, an independent audit can add real value to your company. It can help you spot weaknesses in...

The benefits of an audit are always likely to outweigh the cost.   Below are just some of the benefits: Streamline Your Operation A good auditor will really get under the skin of your business.  In carrying out their audit work they are...

The headline thresholds for companies that are required to be audited have not changed for a number of years: £10.2m turnover; £5.1 assets; and 50 staff.  However, below the surface are a number of exceptions and you will need to consider...

Sensitive company information in the public domain can be used by various stakeholders such as employees or in particular competitors to gain an advantage. A classic example of this, and an accountants worst nightmare, is when the detailed...

Within most leases there is often a requirement for the landlord to provide an annual statement of service charge expenditure to occupiers after a service charge period. It is common for the annual statement to be certified by the landlord’s...