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Audit / October 20th 2020
Remote Statutory AuditsWith no sign that the pandemic is going away, statutory auditors have been forced to rethink the way that they carry out their work so that they can protect their staff and the client while still producing a high-quality piece of work. Auditors have had to adapt their approach to the statutory audit in a number of ways: Timetable, budget and fee — Additional work may be required due to the nee…
Read ArticleAudit / October 20th 2020
With no sign that the pandemic is going away, statutory auditors have been forced to rethink the way that they carry out their work so that they can protect their staff and the client while still producing a high-quality piece of work. Auditors have
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Audit / January 13th 2020
Annual audit fees can often be substantial. However, in terms of reducing the overall cost of an audit you need to understand what is involved in the audit and what you can do to substantially reduce the amount of work carried out by the auditors th
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Audit / January 10th 2020
With the excitement of Christmas and New Year’s Eve behind us, most of us are looking forward to the year ahead, full of plans and optimism. January often feels like a month dedicated to fresh starts, but before beginning a new year of business we
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Audit / November 5th 2019
Generally, when a property is used to earn rental income then it will fall under the definition of investment property. The problem is that FRS 102 (Sept 2015) simply states that the where a property that is owned by one group company and is rente
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Audit / November 5th 2019
Companies often believe that this is an easy calculation…just apply 10% against our debtor balance. Now this may work as an approximation for your management accounts but it won’t do for your annual financial statements. Below is a descriptio
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Audit / October 10th 2019
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 survey
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Audit / May 28th 2019
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 profit an
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Audit / May 28th 2019
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 these wh
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Audit / February 22nd 2019
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 likely t
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Audit / November 20th 2018
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 your inf
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