A
uditing remains one of our principle services and in the
majority of cases it is carried out in conjunction with accounts preparation.
The audit process is highly regulated with specific requirements for
different types of organizations.
Regulation requires a high level of expertise on the part
of the auditor in order to fulfill statutory obligations. As registered
auditors we have the requisite knowledge and expertise not only to meet these
obligations, but also to make the audit a valuable tool in assessing how
effectively an organization is being controlled and managed.
We undertake audits not only for trading companies but also
for registered charities, registered friendly societies, pension funds,
housing associations as well as many other specifically regulated
organizations.
Our general approach to audit work is governed by Auditing
Standards issued by the Audit Practice Board. We are required to carry out
our work in accordance with strict auditing standards.
The detailed examination of an organization that is
undertaken during an audit provides a unique opportunity for a fresh pair of
eyes to look at the way the organization is run. All aspects of internal
control are considered and assessed so ensuring that owners of a business or
enterprise whether they be shareholders or trustees have the confidence that
their organization is well managed.
We may, for example, see that whilst a function may be
adequate, there could be ways to make it more effective. Conversely, we can
offer assurance if that function is working well and can be left alone. We
only recommend change where it would benefit the day to day running of the
enterprise.
We believe in the old adage:
“If
it’s not broken, don’t fix it!”