Have you ever had to turn away a client because you didn’t have the ability to carry out an audit? Are you considering giving up on your audit registration because you can’t justify maintaining it for a small number of clients?
Whilst audit thresholds have changed substantially over the last few years and significant numbers of clients no longer require a statutory audit there are still large numbers of clients who require the services of an auditor and not just because of the size of the business. Perhaps the client has an external funder who requires an audit, or maybe the client has a special status such as a Charity, or the client has certain client accounts or grant income requiring an auditor to sign off.
It is not uncommon for practices to be approached by such clients and have to turn away profitable work because they are not registered to carry it out. Equally some practices may feel they do not have sufficient levels of such work to justify maintaining their audit registration and may be faced with the difficult decision of resigning from certain of their potentially best clients.
Well you get to win or retain a major client and undertake all of the year end accounting and advisory tasks. These are often much more lucrative that the audit fee itself and, let’s be honest, you probably find these more exciting than the audit!
This will depend on the exact nature of the audit assignment. Typically you would prepare a set of deliverables for us to audit. The exact form and nature of the deliverables would be agreed with yourselves in advance along with a timetable for carrying out the work on the assignment.
As statutory auditors we are able to provide the following audit services: