Being compliant with regulatory requirements is only one reason to have an audit. There are also a number of benefits to having your financial statements audited by Loucas.
The Audit Process
As part of the audit process, we will review and test your accounting systems and controls that you have in place and identify any weaknesses. We will sit down with you and discuss these whilst also suggesting useful improvements to ensure a robust internal control environment.
The benefits of having an audit
Regular audits can help deter fraud from occurring. Our audit tests are designed to reduce the risk of fraud and error within the company.
An audit can help provide assurance to directors and shareholders who may not be involved heavily in the day-to-day running of the company.
An audit can also help provide assurance to bank and lenders (current and prospective).
Loucas will provide advisory services to you that can benefit management and those charged with governance. Such advice would include but isn’t restricted to, tightening internal controls, reducing the risk of fraud, tax planning, technical advice, how the business is running and what can be achieved.
An audit can enhance the credibility of the financial statements for various third parties:
- Audited accounts can help with credit ratings
- Suppliers can favour audited accounts when considering credit risk
- HMRC when placing reliance on the accounts
- Investors (current and prospective)
How we can help
At Loucas, we understand that you would like peace of mind knowing that your financial statements are in full compliance with statutory requirements. To find out more, call us on 01622 758257and speak to one of our audit experts.
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