Auditing & Assurance Services

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An audit is a systematic review and assessment of information or documents.

There are a few different types of audit but, in the specific context of professional services, an audit is usually financial. It is intended to provide reasonable assurance, but not absolute assurance, that the financial statements give a true and fair view in accordance with the financial reporting framework.

Not all companies are required by law to have audits. Many companies who do not require audits by law opt to have their financial information assured independently, usually by accountancy firms.

Assurance is a professional service with the aim of improving the quality and transparency of information, to reduce the chance of problems occurring from incorrect information. An audit is a type of assurance service.

Assurance services can be regulatory or compliance-based. They work to ensure that a company or organisation is following guidelines, rules and policy, and provide both internal and external confidence for financial statements.

Who Is Obliged to Have an Audit?

HMRC states that a company must have an audit if at any time during the financial year it has been:

  • A public company (unless dormant).
  • A subsidiary company (unless it qualifies for an exception).
  • An authorised insurance company or carrying out insurance market activity.
  • Involved in banking or issuing e-money.
  • A Markets in Financial Instruments Directive(MiFID) investment firm, or an Undertakings for Collective Investment in Transferable Securities (UCITS) management company.
  • A corporate body with its traded on a regulated market in a European state.

We provide various Auditing & Assurance Services to Companies and Firms and Trusts. Audit includes through verification of evidences, vouchers & certifications. We also provide following services:

HMRC states that a company must have an audit if at any time during the financial year it has been:

  • Statutory Audit under Companies Act 2013
  • Tax Audit under Income Tax
  • GST Audits
  • Internal Audits
  • Management Audits
  • Stock Audits
  • Trust Audits
  • Fraud Investigation and Forensic Audits
  • Special Purpose Audits & Certifications
  • Foreign Exchange Remittance Certifications such as Form 15CB / 15CA.
  • Peer Review Certifications for Listed Companies