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Audit

Audits for Small Businesses & Start-ups

Usually small business audit reports are not required alongside accounts. There may be a need due to a regulatory requirement or a business may choose to do so for the purpose of transparency and as good corporate governance.

About our Auditing Service

Whilst many businesses look on audit as a distraction and a hindrance to the day to day operations of the business, the service can and should be more than that, identifying issues within systems and ensuring that the business remains compliant with sufficient checks and safeguards in place to protect against unexpected issues.

We have a have a small number of clients who don’t meet the legal requirements to need an audit but choose to do so for transparency and as good corporate governance.  This is particularly popular for businesses who are fast growing where a sale or fundraising round is likely in 1-3 years.

There may otherwise be regulatory reasons why an audit is required, such as for those businesses operating a client account (e.g. solicitors), certain Financial Services businesses, or Charities.

Of course, no matter what the scenario it is natural to hope that the audit process causes minimal distraction for your finance team.  Effective communication is key to minimise disruption.  At the outset, we will define the objectives and agree on a realistic timetable which will highlight key stages and deliverables.

During the audit itself we will bring to your attention significant issues as they arise. At the conclusion, we will report on weaknesses in the systems and controls in the accounting system that have been identified and will make recommendations that can prevent fraud and error.

Our small business audit approach is based on a risk assessment of the business so that our work is focussed on the areas of most significance or that have the greatest risk of error.

Our team has experience of working with a wide variety of sectors and this together with a deep understanding of your business can ensure that your small business audit is not only compliant with either UK or International standards of accounting but will focus on matters that will add value to your business.

For further information about our comprehensive but hassle free small business audit services, please contact us.

Do you require a Audit for your business?

Fill in this easy three step form and a member of the Wisteria team will happily give you a call back.