Identifying issues within systems and ensuring that the business remains compliant with sufficient checks and safeguards in place to protect against unexpected issues. This should help to give the shareholders and external stakeholders piece of mind.
We even have a small number of clients who don’t meet the legal requirements for a financial audit but choose to do so for the purpose of transparency and as good corporate governance. This is particularly popular for businesses who are fast growing where a sale or fundraising round is likely in 1-3 years.
The financial audit process
Of course, no matter what the scenario, it is natural to hope that the financial audit process causes minimal distraction for your finance team. Effective communication is key to minimise disruption. At the outset, we will define the objectives and agree on a realistic timetable which will highlight key stages and deliverables.
During the financial audit itself we will bring to your attention significant issues as they arise. At the conclusion, we will report on weaknesses in the systems and controls in the accounting system that have been identified and will make recommendations that can prevent fraud and error.
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Our accounting financial audit approach is based on a risk assessment of the business so that our work is focused on the areas of most significance or that have the greatest risk of error.
London accounting and auditing solutions
Our team has experience of working with a wide variety of sectors and this together with a deep understanding of your business can ensure that audit is not only compliant with International Standards on Auditing but will focus on matters that will add value to your business.
Shareholders can have confidence that the financial statements are not materially misstated and free from any management bias to manipulate the financial results. Such areas are key for the purposes of any future business sale or where external funding might be obtained.
Providers of finance such as banks or suppliers will have more confidence and some may even insist on audited financial statements as a condition of lending or providing credit.
For further information about our comprehensive but hassle free financial audit services, please contact us.
