What happens during an audit?

Every audit is different depending on the individual circumstances of the business or charity and our team will always ensure that the process is tailored to the needs and requirements of your unique circumstances.

Our audits follow a risk based approach whilst considering the controls to assess when it is appropriate to place reliance and where a more substantive assessment should be made.

Most statutory audits take similar steps and typically comprise of the following stages;

1. Discuss expectations and results from the year

2. Request for required information

3. Determine environmental and other risk levels

4. Determine audit parameters

5. Devise an audit plan

6. Conduct fieldwork

7. Results discussion

8. Produce audit report

9. Discuss and issue a report into findings and any areas in which improvements may be made to reduce risks

Throughout these stages, our auditors will always be available to answer your questions and advise you as little or as often as you need. Our proficient team will guide you through every step of the process, whilst conforming to the ICAEW’s standards in order to provide you with an in-depth evaluation of your business’ performance, financials and any potential risks or weaknesses that may hinder your growth.

We will ensure that, after the audit is complete, you are left with a better understanding of your business and how to maintain growth and internal efficiency. Contact us today to discuss your audit requirements and how we might be able to help.