Auditing services

Why else should you have an audit?

So, if your turnover doesn’t exceed the audit threshold, why should you consider having an audit?

1. To help raise finance from financial institutions.
2. It is good practice and an excellent way of making sure the business is running efficiently.
3. 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 for whom we undertake audits 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 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 regulations and will advise you on any action that you need to take in order to remain compliant.

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.