Statutory Accounts

Let us take the burden off your accounts department.

Is your auditor allowed to prepare your statutory accounts?

Following changes to audit guidelines and ethical standards, your auditor may now require you to prepare your own company’s statutory accounts and corporation tax computations.

This ethical requirement has impacted negatively on many companies that require an audit, particularly where they have insufficient in-house resources or a lack of technical ability to undertake the work.

Your options are limited!

The technical experience needed to do this often means your accounts need to be prepared by your more senior people, who may well already be overloaded.

Recruiting a suitable specialist probably isn’t the answer, given that their skills may not be utilised fully throughout the whole year.

Ultimately, these extra demands at the most stressful times of the year can become a real nightmare!

We believe Barnes Roffe LLP has the solution.

Our team know the guidelines inside out!

  • We have a pool of highly skilled accountancy and taxation professionals waiting to help.
  • We have the appropriate technical ability to prepare both your statutory accounts and detailed corporation tax computations in advance of your annual audit.
  • Our team will recognise immediately what needs to be done and can carry out the work efficiently on recognised statutory accounts software.
  • In addition, auditing statutory accounts brings its own cost benefits, as opposed to auditing by trial balance.
  • There will be as little disruption to your existing team as possible and all for a one-off fee that will be agreed in advance.

This solution will invariably be far cheaper and more efficient than employing your own staff and it will provide your auditor with accurate statutory and audit information. This will in turn help keep their audit fees to a minimum.

Save tax and reduce compliance fees!Statutory Accounts statement and impact assessment

  • Passionate about tax savings
    Your auditors cannot audit their own work, so their corporation tax compliance service may be nothing more than a basic review. Our expert tax team can review your tax computations in detail in order to maximise the opportunities to save you tax.
  • Expert impartial advice
    Situations may arise where there is a conflict of interest and your auditor cannot give you impartial advice. In this instance, we will be able to advise you appropriately and independently.
  • Reduced fees
    At the moment your auditor is probably charging the same hourly rates for both low risk and high risk work. We can undertake low risk work on your behalf and can also perform audits for smaller companies within your group if required. This will normally be at a much lower cost than your mainstream auditor.
  • Stress Free!
    You will enjoy the peace of mind of knowing that you are providing your auditor with an accurate set of accounts and supporting information. In our experience a dialogue between ourselves and your auditor can often resolve any contentious issues speedily!

Is this the right service for you?

This service is ideal for the following types of companies:

  • All companies, whether listed or private, that require a full audit but do not wish to maintain a statutory accounting, or a corporation tax function in-house.
  • Large independent companies
    High level technical information is only provided to auditors and H.M. Revenue and Customs on a periodic basis. Consequently, our service is relevant where a full time resource is not required, or indeed justified.
  • Small listed companies and those listed on the Alternative Investment Market (AIM)
    These companies will have third party investors and will be subject to higher levels of statutory and disclosure requirements. These may be disproportionate to their type of business and level of turnover.
  • Companies that are part of an overseas group
    The parent company often imposes strict reporting requirements, but the UK company may have only limited accounting resources.

Take advantage of our specialist accounting team TODAY and let us take the burden of preparing your Statutory Accounts off your accounts department.

At Barnes Roffe, we do more…

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