News & Press

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...

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

But What Is An Audit? An audit is an independent examination of a company’s financial statements and supporting records, carried out by a registered auditor. The purpose is to confirm that the financial statements present a true and fair view...

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...

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 companiesSubsidiaries,...

What Are the Main Audit Types in the UK?In the UK, the two most common audit types are internal audits and external audits. While both involve reviewing systems, records and controls, their purpose and outcomes are different.An internal audit...

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

When someone mentions a ‘Tax Audit’ the word can have negative connotations. Especially when HMRC is involved. The word “audit” can cause concern for many business owners. It is often associated with mistakes, penalties or unwanted scrutiny....

What Is a Statutory Audit?A statutory audit is an independent examination of a company’s financial statements and underlying records. It is carried out by a registered auditor and is required by law for certain companies.The purpose of a...

Understanding the difference between a statutory audit and a non statutory audit is important for businesses looking to stay compliant while also improving financial oversight. While both types of audit involve reviewing financial records,...