Audit & Assurance
Statutory audit
An independent audit planned early, requested once, and delivered to a timetable you can plan the year around.
What it is
A statutory audit provides an independent opinion on whether the financial statements give a true and fair view. How disruptive it is depends almost entirely on planning: risk understood early, a single request list, and interim work done before year end.
Who it applies to
Who this is for.
- Entities required to file audited financial statements
- Businesses whose lenders or shareholders require an audit
- Groups requiring consolidated audited accounts
- Entities changing auditor
What we do
The work itself.
Plan around where material error could actually arise
Issue a single agreed request list before fieldwork begins
Perform interim controls and substantive work ahead of year end
Complete fieldwork against the plan, clearing queries as they arise
Deliver the opinion and a management letter worth reading
What you provide
What we will need from you.
Gathering these before the first conversation shortens everything that follows.
- Trial balance and supporting schedules
- Bank confirmations and third-party confirmations
- Contracts and agreements relevant to material balances
- Access to the finance team during agreed fieldwork windows
Timeline
Planning begins well before year end. Fieldwork and completion are scheduled to an agreed timetable rather than fitted in afterwards.
Rates, thresholds and filing dates change. We confirm the current position for your entity in writing rather than publishing figures that may date.
Questions
What people ask.
It is routine, and there is a professional process for it. The main practical issue is opening balances, which we address during planning.
Related
Related work
Related industries
Next step
Statutory audit, handled properly.
Tell us where you are with it. If the answer is that you have nothing to do, that is what you will hear.
Not ready for a meeting? Ask one specific question instead.
What follows
- A person in the relevant practice reads it, not a routing queue.
- One reply that already contains a view, not a request to book a call.
- A written scope and fee basis, or a straight answer that there is no work to do.
- Sunday – Thursday, 9:00 – 18:00 GST