What is an audit?
An audit evaluates a business’s current processes and systems and checks its compliance with the relevant legislation and regulations. It will also flag up any weaknesses within an organisation and allow us to suggest ways in which to strengthen the performance of a business.
Does your company require an audit?
For many organisations, an annual audit is a statutory requirement – and even those businesses that are exempt, they might chose to be audited in order to assess the general level of financial control within the business.
Your company may be exempt if at least two of the following conditions apply:
- An annual turnover of no more than £10.2 million
- Assets worth no more than £5.1 million
- 50 or fewer employees on average
At RA Accountants, we have an experienced audit team which can undertake your annual audit and provide any additional feedback that might help you improve your financial systems and processes going forward.