We carry out a voluntary or statutory audit for smaller businesses, growing businesses, charities, pension schemes, and quoted companies.
The audit creates an ideal opportunity to assess the qualitative aspects of financial management and reporting systems. It provides the information basis for a number of services, which can really make a difference, such as corporate and personal tax, information technology and personal wealth management for owner/managers.
The audit team is always fully briefed and is led by a partner and manager who have first-hand experience of the client's needs and who can bring to bear a wide experience of similar organisations.
Atkinsons are members of the ICAEW’s Audit Faculty.
Managing Risk
The audit also offers an excellent opportunity to identify potential risks arising from weaknesses in your accounting, reporting, internal controls or any other area. We always write a formal letter at the end of the audit which specifies matters requiring attention and recommends actions. For further information on reducing risk, on Internal Auditing, Corporate Governance, fraud detection and related topics click here.
Financial Reviews
If you do not need a full voluntary audit, a financial review can provide a flexible and cost-efficient alternative.
As well as looking at the basics of accounting and reporting, a review can be designed to examine particular aspects of the business that might vary from year to year. Reviews can thus deliver excellent value and very useful reports.
The risks of not carrying out either an audit or a review are considerable, while the benefits of doing so are great. Each can satisfy you that all is well, can lend the credibility of an outside view to your accounts and can show up weaknesses and opportunities within the business.
Compliance with Accounting Rules
All companies must comply with the rules and regulations which apply to record keeping and accounts. In particular:
• Proper accounting books and records must be kept
• Annual financial statements must be prepared in line with the Companies Act and accounting standards to give a 'true and fair view' of the company's affairs
• Full or abbreviated accounts must be filed at Companies House
Even if we do not report on your accounts as auditors, we can ensure that your accounts comply with the relevant rules and reflect the information you have supplied to us. This gives added assurance and credibility. We can also advise you on the records you should keep and the format of the accounts you need to file.
Managing Your Finances
At every stage in the life of your business, from start-up to eventual flotation, services of one kind or another will be required. Financing and refinancing, budgeting, cash flow projections and management, liaison and negotiation with banks, identifying tax problems and potential savings, even flotation itself - we can help with them all.
These services are underpinned by the knowledge of your business that we gain as auditors, or in preparing your accounts/financial review.
The business assurance department works closely with all the other departments in the firm. We will always bring in our tax and other specialists when needed, working with them to achieve the desired result on your behalf.
If necessary, we can provide interim staff such as finance directors or financial controllers and, using modern technology, set up a 'remote access' bookkeeping facility.
Internal Audit
We can make a difference to local authorities, health authorities, and 'not for profit' organisations with our risk management and internal audit services. Our accredited team of professionals will provide the outsourced resources you need to concentrate on your core activities.