Financial Audit Services
What is an audit?
An audit is an evaluation of a subject matter against a specific set of criteria in order to form an opinion on whether the subject mater is fairly represented, the most common type of audit is a financial audit.
A financial audit aims to provide an independent opinion on the ‘truth and fairness’ of a set of financial statements. Often those that own the company (the shareholders) are separate from the managers of the company (Directors).
Who needs an audit?
The majority of privately owned companies are not required to have an audit, but lots choose to be audited as it adds extra creditability to a company, for example if you are trying to raise finance or bid on a large contract.
Generally speaking, if your company meets two of the criteria below you must have an audit:
- Annual turnover of more than £10.2m
- Assets worth more than £5.1m
- More than 50 employees on average
There are also extra considerations if your company is part of a group of companies.
Why you should appoint Treetops as your auditors?
Please call or email to arrange your FREE consultation for any of our services.