audit

What is an audit?

An audit is the independent examination of an organisation financial statements. The financial statement includes a balance sheet, an income statement, a statement of changes in equity, a cash flow statement, and notes comprising a summary of significant accounting policies and other explanatory notes.

Who REQUIREs a STATUTORY audit?

The main reasons why you will be required by law to have a statutory audit are;

For accounting periods starting on or after 1 January 2016 audit thresholds are aligned with the new qualification as a small company. If companies (including LLP’s) fulfils two or more of the following criteria an audit is statutory requirement, if not they are exempt

However, we aim to deliver hassle-free audits and there are good reasons (please read below why have an audit) for having an audit even if you are not required by law to have one.

For periods beginning on or after 1 January 2016:

Why have an audit?

Having independent and unbiased confirmation of the businesses financial position and processes are useful for a variety of reasons:

How can we help?

We are authorised and registered to carry on audit in the UK by Association of Chartered Certified Accountants (ACCA). As registered auditors we act for organisations of every type and size. Our clients are active in all branches of commerce and industry, ranging from small businesses to large corporations.

An audit allows owners and directors to take comfort in the fact that their accounts are true and fair, and can highlight areas where progress can be made.

Our approach to audit is risk based and constructive. The process gives us an opportunity to understand exactly how your business and its financial systems have been performing, and to identify how that performance could be improved. You can also be assured that our audit work is organised in such a way as to minimise interruptions to your operations.

Our work is partner-led and clients have access to senior members of the firm at all times. In selecting members of the auditing team to support the partner, we ensure we choose staff with appropriate experience and expertise. Once the fieldwork is complete, it will be reviewed in detail by the audit manager and partner, not only to ensure that all appropriate matters have been considered but also, crucially, to ensure that our clients have received value for money.

If you need any help or advice in relation to the above, please contact us:

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Edna Oyedi
Edna Oyedi
March 15, 2023
Eureka is a reliable accountancy, they have provided me with day to day advice on how my business can grow and develop. They are easy to contact for assistance and guidance and they care about you as a person and your business as a whole. I do recommend Eureka accountancy.
Aftab Khan
Aftab Khan
January 31, 2023
Excellent service. I would strongly recommend for efficient accountancy. Just a phone call away, always ready to help. Very knowledgeable would always keep you right and up to date. Makes your life hassle free, will share all details required for your payrolls, other payments etc.
Zara World
Zara World
January 31, 2023
I am new business owner, so i was very unfamiliar with the various structures and tax process. Eureka Accountants explained everything to me and made it very convenient and easy process for me overall. Great service and extremely helpful. Would recommend to anyone Thanks very much
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Ali Zubair
January 31, 2023
As a small business owner, finding the right accountant is crucial for the success of my company. I am beyond grateful to have found this great accountancy firm who has been a valuable asset to my business for the past 4 years. They are trustworthy, diligent, honest and friendly, making the financial management process for my business seamless. Their expertise has allowed me to focus on growing my business while they take care of the finances. I highly recommend this firm to any small business owner in need of a dependable and knowledgeable accountant. Five stars all the way!
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Shanaz Khan
January 31, 2023
Great service and very competent, helpful and friendly staff!

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