Call us Today 01246 912135
Menu
Audit & Assurance Services In Chesterfield
Our audit clients can be categorized into two groups: those legally obligated to have an audit and those who voluntarily choose to do so. Regardless of your company’s classification, we believe our role is to provide added value during the audit process.
Contact
For companies that voluntarily choose to have an audit, there are strong commercial reasons for doing so. Financial providers, such as banks, often require an unqualified audit report to assess risk. In fact, banks may mandate an audit even if there’s a legal exemption. An audit can be particularly beneficial if you’re seeking new sources of finance, including hire purchase, factoring, or invoice discounting. Without audited accounts, you may face higher interest rates or be required to provide personal guarantees to lenders.
Suppliers also base credit decisions on information from credit reference agencies, which may downgrade credit ratings for companies unable to provide audited accounts, especially if they were previously audited. If you’re considering selling your business, audited accounts can help provide a verified financial track record. Growing companies may also find audited accounts invaluable, as they can offer insights into internal controls and identify areas for improvement.
While fraud is an unfortunate reality, an audit can serve as a deterrent and help detect irregularities. Although it’s not a foolproof guarantee against fraud, the mere fact that a company’s accounts are audited can discourage fraudulent activities, especially those involving collusion at higher levels.
We believe that the commercial benefits outlined above should be accessible to all businesses, regardless of whether they are legally required to have an audit. Therefore, we structure our audit processes to provide added value beyond simply producing a report.
To find out more about how our leading firm of accountants in Chesterfield can help you, please contact us