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Audit & Accountancy

Your accountancy function is a vital part of your business’s processes, but it can be hugely time consuming. At Edwards, we can provide audit and accountancy support services to help boost the efficiency of your business, identifying opportunities for improvement and getting to know your processes inside and out. We can also help you better appraise the performance of your business and explain the numbers in a way you can understand.

We provide a wide range of audit and accountancy services, including:

What is an audit?

As a business, it’s hugely important to keep your financial records as accurate as possible. An audit is an examination of your financial information by an independent professional, to form an opinion as to whether your financial statements show a true and fair view.

Accuracy of your financial statements refers to whether the information provided in your balance sheet, income statement and supporting notes are correct.

At Edwards, we undertake numerous statutory audits, which can also identify the strengths and weaknesses of your systems and processes and give you the opportunity to improve them.

When is an audit required?

An audit is a statutory requirement for your company if two of the following apply:

  • The company has an annual turnover of more than £10.2 million;
  • The company has total assets of more than £5.1 million; or
  • The company has more than 50 employees

How an audit is conducted

An audit is conducted through the examination of financial records. This examination is directed by UK audit standards and rules to ensure the audit is being performed effectively. Once the process is complete, auditors prepare their audit report for inclusion in your financial statements that details their overall findings and their assessment of your financial information. Statutory audits are usually completed annually, depending on the type of business.

Why does my business need accountancy services?

Even for the most experienced professionals, accountancy tasks that don’t fall under the scope of an audit can be a time consuming process. Using the services of a Chartered Accountant can allow you to focus more on the day-to-day running of your company.

Accountancy services from experienced specialists can assist you in filing your statutory annual accounts, which as a business you must provide to HM Revenue & Customs (HMRC) and Companies House. They can also assist you with producing the information needed for filing tax returns and generally keeping your annual accounts in line with current legislation. This can help you save both time and money in the long run by reducing the burden on your team and removing the need for hiring additional members of staff.

How can we help?

Our audit and accounts teams thrive on providing an informative and courteous service, meeting stringent deadlines and maintaining an excellent standard of communication. In addition we can provide other services such as small business advisory and pension schemes audits.

At Edwards, we ensure that our teams are professional, courteous and helpful at all times. We also prioritise getting to know you and your business, so wherever possible, the same team will be assigned to you year-on-year. This will give you peace of mind that you are dealing with professionals who truly know your business inside and out.

 

Contact our specialists: