We are registered to carry out audit work in the UK under the Institute of Chartered Accountants of England & Wales.
Companies of a certain size are required to have a statutory audit. This subjects to the accounts and bookkeeping records to International auditing standards which, although are prescriptive, do require judgement by us as auditors.
We need to compile evidence that the accounts are true and fair and express an opinion of them following the completion of our audit work.
Some companies, which are below the limits for having a statutory audit undertaken, can request that an audit is done in compliance with International Auditing Standards to get an independent view on the truth and fairness of the accounts.
We undertake both kinds of audit for SME clients.
We are required to report on management on what is working well and what is not in a formal management letter.