Pin-point weaknesses, improvements & cost-saving opportunities...
An audit is more than just a statutory requirement, it’s an opportunity for you to receive a comprehensive financial health check on your business.
Our auditors work with you and your business throughout the year, providing a clearer understanding of your position leaving us best placed to provide real-time solutions to ongoing issues.
Internal Audits comprise of a detailed review of internal controls, identifying weaknesses and suggesting improvements in the form of a detailed Report to Directors.
With over 30 years of experience in auditing Limited Companies and PLC’s across a wide range of industries, we’re well placed to provide relevant recommendations and ensure your accounts show a “true and fair view”.
When is an audit required?
A statutory audit is legally required when two of the following three criteria occur over successive years:
- Your turnover exceeds £10.2m
- Total assets in excess of £5.1m
- Your average number of employees is greater than 50
These same limits also apply to groups as a whole, so an individual company would still require an audit if they didn’t themselves breach the thresholds but the group that they were part of did.
There are numerous reasons why even when these thresholds are not breached, an audit would still be required. For example, lenders can often want the extra assurance an audit provides before committing to proving funds and external investors/business angels often seek the extra comfort that their investment is being spent wisely and systems are robust for the company to grow.
Given audit requirements apply to a group as a whole and not just individual companies, you may find that although you are not required to have an audit, your parent company that’s based overseas requires you to have one.
We work closely with group auditors from across the globe, as well as being the group auditor for international groups and having to satisfy ourselves to the work of component auditors.
Ask us about an audit...
Speak directly to our Head of Compliance, Dan Wilson…
It's vital you choose to work with businesses you believe in and are credible.
Sedulo Audit Limited is registered with ICAEW as a member firm for AML supervision and for audit licence purposes.