What options do I have to give assurance to the accounts we prepare on an annual basis?

There are several options available if you want to provide assurance for your annual accounts preparation.

– An accounts preparation engagement is where a qualified accountant will ensure that your financial statements are all in order and have been compiled correctly. This process will include checking that the numbers have been accurately transferred from the underlying accounting records and that they are compliant with any disclosure requirements.

Unlike an audit, accounts preparation is not a regulated service. It provides no conclusion or opinion, and no validation of the underlying accounting records.

– An agreed upon procedures engagement is where a qualified accountant will discuss with you and agree upon a set of specific procedures on which to report, according to your requirements. This approach is customised to the clients’ needs and concerns and is very useful when targets verification is required.

– An assurance review engagement provides a level of assurance without a full audit. It’s flexible and can be completely adapted to a clients’ needs. It’s a good option when you want assurance, but not a fully comprehensive audit.

– Sometimes, audited accounts are required for certain contractual obligations, for example funding providers may want to see a comprehensive audit of your accounts. An audit is an objective examination and evaluation of the financial statements of an organisation.

– A directors’ report provides stakeholders with commentary and an overview of a company’s financial performance, strategic direction and overall outlook.

– A qualified auditor opinion is a Certification that accompanies financial statements and assures shareholders and stakeholders about the reliability of financial information.

Talk to us today to work out which assurance option might be best for you and your business.

Accounts

Management Accounts, Year-End Accounts, Consolidated Accounts, Service Charge Accounts

Audit and Assurance

Advisory

Corporate Finance

Personal Tax

Corporate Tax

Outsourcing

Not-For-Profit Services