We believe that the key to a valuable compliance service is the strength of the relationship between you and our service team. This enables our work to be thoroughly and accurately planned and tailored to your specific needs.
By involving the most experienced members of our team right from the start, we will also focus on the specific strategic needs of your business; we do not believe that ‘one size fits all’. Moreover, we will be available throughout the year to discuss your strategic development and any other matters that you choose to raise. We react quickly to changes in legislation and work closely with in-house finance teams to ensure that your systems are as robust as possible.
Our audit strategy will be to adopt a risk-based approach, which will include a detailed risk assessment and an appraisal of the systems and controls put in place to mitigate those risks. To achieve this, we seek to:
Develop a sound understanding of your business and its risks and the way they are mitigated and controlled; and
Build a strong relationship between your management team and our service team.
A key element of our approach is to agree your expectations at an early stage. This will ensure the key risks are identified and dealt with from the start. At the planning stage, we discuss and agree specific matters, including reporting deadlines, which will save you both time and expense.
We will produce a planning memorandum, setting out the audit approach, the responsibilities of all parties involved and the feedback process. This ensures that we have the information we need to provide an efficient and seamless audit service and that you have plenty of notice to gather the relevant information, so that the interference with your daily workload is kept to a minimum.
The benefits of choosing us to audit your accounts include the following:
- Chance to identify weaknesses in internal control
- Lends credibility to financial statements
- Unbiased, expert recommendations
- Discovers errors
- Assurance for shareholders and directors
Managing a change of auditors
We have carefully developed our approach to starting new assignments and understand that a change of auditors can cause disruption to the management team and accounting staff. We take specific actions to manage this critical stage including:
- Holding an initial meeting with you to discuss the transition process and agree timescales;
- Communicating with existing advisers at an early stage to obtain all relevant documentation and details of outstanding matters;
- Ensuring all relevant paperwork and processes relating to the appointment are completed within weeks of the appointment being confirmed; and
- Maintaining regular communication with you to ensure a smooth transition.