Audit / May 28th 2019

Correcting Documents sent to Companies House

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 and loss account pages that are appended to the financial statements are file

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 when assessing if your company or group requires an audit this year or next.

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 to be able to highlight any weaknesses in your accounting processes and inte

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 infrastructure, expose fraudulent behaviour, and refine your accounting proces

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 number of entities. Visa appear to have more relaxed rules in the UK than some oth

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 to set up a UK subsidiary then there are certain compliance requirements that you

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 for a wide range of companies in different sectors and different sizes.  We

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 a CIO To set up a CIO you must: Register with the Charity Commission A C

Failing to be audited when you should have been can result in legal action.  Therefore, getting it right at the outset is essential. (more…)

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 ingredients into a cohesive report. Simplicity and relevance are essential to explain how t