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AUDITING
Don’t dismiss the audit as a simple bookkeeping exercise; structured correctly it’s a powerful management tool. It identifies what is happening within your business, potential areas of weakness, or where resource use is not being optimised.
An audit is not usually required by law unless turnover exceeds £5.6 million, however many clients will use one to assist in managing their business effectively .
The different types of audit are: |
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Audit to meet statutory requirements |
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Non statutory reporting on financial results for unincorporated businesses |
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Internal Audit ensuring your internal procedures are relevant and being adhered to |
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Management Audits encompassing a one-off check on management systems and processes |
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