There are lots of reasons why you may need to have an audit. It could be for legal requirements or an audit may be necessary to satisfy the terms of your agreement with your bank, shareholders or suppliers. Regardless of why you need to call in an auditor, it can give you peace of mind that your accounts are a fair reflection of your business, showing that you have strong systems and controls in place.
An auditor will give you lots of information which will help you to make strategic decisions and drive your business forward. Wise & Co 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. Our auditors regard it as their job to keep you up to date with any changes and developments in accounting and audit standards, explaining 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. Our charity auditors can guide clients on changes to legislation and in particular, the identification of the risks and uncertainties that the charitable sector faces. Wise & Co’s charity team also provides guidance and training to clients, specifically tailored to their needs. The auditors can cover everything from day-to-day bookkeeping to technical updates on key areas, such as the Charities Statement of Recommended Practice.
For those who do not need or want a full audit, but who still want the comfort of knowing that their financials are in good order, we can conduct an assurance review as 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.