More assurance please
So you’ve survived the worst that the recessions, both of them, have thrown at you and buoyed by the green shoots of recovery and a bulging order book, as predicted by the IMF, you feel the need to be bold.
A benefit of your suppressed turnover was the dispensing of the need for an audit and you have managed to save some fees over the past couple of years.
However you’re feeling bold, you want to borrow for expansion or might want to merge with another business, but are you confident that the business and its internal processes could withstand the due diligence process to get that over the line?
Don’t be alarmed, you needn’t immediately opt for a statutory audit again with more information potentially put into the public domain. Although we can help you if you choose to do that. You can, however, continue to file unaudited accounts at Companies House for as long as you are entitled to the exemption.
However you can ask us to undertake a non-statutory audit or some agreed upon procedures on your behalf and report to you, the shareholders.
A non-statutory audit can be undertaken on the same basis as a statutory audit, if you wish, with your control environment assessed and a management letter produced if deficiencies were observed during that process. The non-statutory audit can also be undertaken on any other alternate basis. It could also be on a set of consolidated accounts where you have previously not produced them or wouldn’t want them to be filed.
Agreed upon procedures work, on the other hand, can be carried out where you have specific concerns in specific areas. Testing would be agreed between ourselves for those areas of concern and a report of the findings produced for you, the shareholders. An example of this is revenue testing where your operational and accounting systems are not integrated but you would like to know that all sales are being captured correctly between the 2 systems.
So there we have it, a full range of assurance services that can be tailored to your specific needs and which can provide you with comfort in the areas that worry you most.
Speak to us as part of the next phase of your business.
In the meantime we hope that you get more than your fair share of the 1.9% growth predicted by the IMF next year. The future’s going to be interesting.Talk to Barnes Roffe today