Audit and Assurance
At HSKS Greenhalgh we believe that the benefit of accurate, meaningful financial information to a business cannot be overestimated. Our dedicated Audit and Assurance Team, led by Director Philip Handley and based at our offices in Burton upon Trent and Nottingham, work with our clients to ensure they have the most reliable and up to date figures available when making decisions concerning their business.
It is our belief that even companies who are not legally obliged to do so, should seriously consider investing in an audit. There are a number of good reasons why:
- An audit provides reliable financial information that assists owners and directors in the decision making process. Furthermore this information is often required by the bank when making lending decisions and also forms a vital part of other financial negotiations such as buy-outs and take-overs.
- Many growing owner-managed businesses eventually reach the stage when they are legally required to have an audit. The experience of our clients has shown that they find this process runs more smoothly if they are already used to routinely having their accounts audited.
- A set of audited accounts can identify any adjustments that are important for tax purposes and eases the tax compliance burden for many companies. The audit can also act as a deterrent to fraud and is designed to detect fraud and errors that may be material to the accounts.
- The area where investing in an audit adds the most value to your business is the assurance to be gained from an independent and objective review of your financial systems. Failings in your financial structures can be detected early, allowing you to take the necessary action to address these issues before they have a detrimental affect on your business.
Regardless of whether your audit is a statutory requirement or you are simply taking advantage of the benefits an audit offers, at HSKS Greenhalgh we view the process as an important part of the on-going relationship with our clients.
"The auditing team are very helpful and understanding"
East Staffordshire REC
You will be assigned your own Client Service team, consisting of a Director and Manager who work with you to gain a knowledge of your business and its external environment, as well as providing a dedicated point of contact to deal with any queries you may have. The Client Service team work with you to plan the audit so that it causes as little disruption as possible to the everyday running of your business and yet fulfils its objectives of providing professional, accurate and timely information. Following the audit, your Client Service team will meet with you to interpret the information, as well as to highlight any weaknesses within your financial systems.
As well as audit, HSKS Greenhalgh's Audit and Assurance Team also offer a number of other assurance services, including forensic accounting and litigation support, due diligence and reporting on financial assistance.
Registered to carry on audit work by the Institute of Chartered Accountants in England and Wales.
The government has recently announced changes to company law that allow many companies and limited liability partnerships more choice in deciding whether to have a statutory audit. The changes apply to financial years ending on or after 1 October 2012.
We have answered some of the key questions that you may have in the document below. However if you would like to discuss the new options available in relation to your business in more detail, please contact us.