There are lots of reasons why you may have to have an audit. It could be for legal requirements or you may need one to satisfy the terms of your agreement with your bank, shareholders or suppliers. Regardless of why you have one, an audit can give you peace of mind that your accounts are a fair reflection of your business and that you have strong systems and controls in place.
An audit will give you lots of information which will help you to make strategic decisions and drive your business forward. We follow the highest standards of the major audit institutes in the United Kingdom – the Institute of Chartered Accountants in England and Wales, The Auditing Standards Board and the Financial Reporting Council – and all the prevailing ethical standards and guidance. We regard it as our job to keep you up to date with any changes and developments in accounting and audit standards and we’ll explain the impact they may have on your business or organisation.
Some industry sectors have very specific rules and we are particularly experienced at auditing charities and not for profit sector organisations including academies and independent schools.
For those who don’t need or want a full audit, but who still want the comfort of knowing that their financials are in good order, an assurance review is a good alternative. It’ll also give you the knowledge you need to grow your business and to look at the quality of your results.
The Kite Academy Trust was established in October 2015 with five local schools deciding to work together to provide the very best education and care for their children, families and staff. To get the ball rolling the schools had to go through the conversion process and therefore set up a working party led by Christine Dickinson, who is now Kite’s CEO. Whilst the team was extremely experienced, they appointed Wise & Co as auditors and to assist them with the conversion process.