Although audit exemption rules mean that fewer businesses need to undergo a statutory annual audit, many small and medium-sized enterprises (SMEs) must still go through the process.
At Simon Coles & Co, Central London Chartered Accountants, we do more than simply tick boxes. We’ll deliver an audit that allows you to review the key drivers within your business, your financial controls and management systems. By working to identify potential problems and risks and how best to resolve these, we also use audits to open the door to future performance improvement and growth.
Our experience in this specialist field enables us to tailor our audit and advice to each client’s specific circumstances, drawing on our understanding of their enterprise, the sector in which they operate and wider economic and other factors that affect them.
Because audits provide reliable, valuable financial information, that demonstrate the integrity of their accounts, we also work with clients who voluntarily undergo an audit, even when they are not legally required to do so, for a range of reasons.
These include requirements by providers of funding, to demonstrate credibility to shareholders and other stakeholders or to strengthen financial discipline within the business. A voluntary audit could also be useful to interested parties, such as potential purchasers, in the event of an exit from the business.