Accounts and audit

Limited companies

All companies and limited liability partnerships with a turnover in excess of £6.5million or total assets in excess of £3.26million have a statutory obligation to have an annual audit.

Some companies below these limits may wish to continue with an audit if for example they are looking to sell the business in the next few years or have substantial bank borrowings.

If you are unsure whether to continue with your company audit please do not hesitate to contact one of our partners.

As auditors we have a clear responsibility to audit accounts thoroughly and to meet specific professional standards. We advise accountancy clients on the best ways to present and interpret information, in order to achieve their business objectives and their legal obligations.

We have a very wide range of audit clients, including charities, clubs and associations and pension schemes.

Regardless of whether an audit is required, we will ensure that the business's financial statements are prepared in compliance with the latest accounting standards.

Sole traders and partnerships

Whilst not a statutory obligation, our annual accounting review for non-limited companies is still an essential part of the financial review and forward-planning process. It also enables us to review clients' VAT, PAYE and other statutory obligations.