From peace of mind to legal requirements
If your company has an annual turnover above the auditing threshold, then you are required by law to have your accounts audited. Griffiths Marshall are registered to carry on audit work by the Institute of Chartered Accountants in England and Wales.
Why else should you have an audit?
So, if your turnover doesn’t exceed the Audit threshold, why should you consider having an audit?
- To help raise finance from financial institutions.
- It is good practice and an excellent way of making sure the business is running efficiently.
- To satisfy third parties who have an interest in your business such as shareholders, industry specific reasons, non-executive directors etc.
With the recent audit threshold increase, many accountants have given up their audit licence, as they have fewer clients who require this service. By retaining our audit licence, and as a result looking to strengthen our audit provision, we are happy to do pure audit work meaning that you can stay with your current accountant for all other accountancy and business related services.
The range of organisations we undertake audits for varies from local businesses to charities. We also work with firms who have several subsidiaries or are owned by foreign companies. Businesses who operate overseas, or who are owned by a foreign company will also have to take on board the new International Accounting Standards which will affect businesses with accounting periods commencing from 1 January 2005. You can be confident that the audit team at Griffiths Marshall are fully up to speed with these new regulations and will advise you on any action that you need to take in order to remain compliant.
Choose your audit type!
We can provide experienced audit support in the following areas:
- Statutory audits
- Internal audits
- PAYE / NIC audits
- VAT audits
Getting the most out of your audit
Whilst undertaking an audit for you, we will routinely identify issues that could help your business. This could include:
- Reducing costs
- Improving systems
- Developing market share
Where appropriate, we also attend stock takes as part of the audit process.
If you are looking for an accountancy firm which can provide you with an efficient, cost effective audit, then look no further than Griffiths Marshall.
For more information on our auditing services please contact us on 01452 520000.