Audits

Does your business require an audit?

If you’re not sure, ask yourself these simple questions:

If you have answered YES to any of these, you need to contact us!

What is an audit?

An audit involves a detailed review of the company’s accounting systems and systems of control and requires a detailed understanding of the company’s business.

Why is an audit necessary?

According to the Companies Act 2006, every company that fits the above criteria need to employ an independent auditor to complete an annual review.

It is not necessary for smaller businesses, although many business owners feel it is beneficial to their firm and can request an audit, whatever their size.

While some people shy away from the thought of an audit on their business, it can produce very positive outcomes.

• Such a review can highlight areas for proactive business improvement
• An unqualified audit report can improve the status of the accounts in the eyes of banks and commercial lenders, the taxman and suppliers who may be seeking credit references
• A history of accounts with clean audit reports can also be a factor if you ever wish to sell the company, or take it to the market
• An audit can act as a deterrent to any potential fraudster

We have over 20 years experience in completing company audits, and can offer competitive rates for this highly professional service.

For more information on this service, please contact Annette Dwyer.
Telephone Annette on 01922 418111 or email annette@midasaccountants.co.uk