Audit

Who is requires an audit?

From 6th April 2025, generally companies meeting two or more of the following criteria must have a statutory audit conducted by a registered auditor:

• Annual turnover of £15 million or more
• Gross assets exceeding £7.5 million
• More than 50 employees

Other companies may require audits because they are part of larger groups and other entities such as charities have lower thresholds. 

However, audits are not just about compliance. Many businesses voluntarily opt for an audit to enhance credibility, improve financial oversight and strengthen governance.

Why choose Streets Audit?

We bring sector-specific expertise, a partner-led approach and a commitment to delivering efficient, timely and value-added audits. Our audit approach centres around:

• Compliance & Board Assurance – meeting legal, financial and governance requirements
• Efficiency & Timeliness – completing audits within agreed deadlines.
• Consistency & Continuity – a dedicated audit team for long-term collaboration.
• Sector Knowledge – understanding the unique challenges of your industry.
• Clear Communication – easy to understand reporting and proactive advice.

Who we work with

We provide statutory and voluntary audit services to a wide range of organisations, including:

• SMEs and owner-managed businesses
• Large corporations and group structures
• UK subsidiaries of overseas parent companies
• UK parent companies with overseas subsidiaries
• Charities, academies and not-for-profits
• Regulated businesses requiring FCA audits
• Law firms requiring SRA (Solicitors Accounts Rules) audits
• Voluntary Audits: when might you need an audit even if it’s not mandatory?

Even if your business is below the statutory threshold, an audit can provide value in various ways:

• Investor & Lender Confidence – many investors and banks require audited financial statements.
• Improved Governance – strengthens internal controls and financial management.
• Stakeholder Assurance – key suppliers, customers and stakeholders may require audited accounts.

For organisations not requiring a full audit, we offer alternative financial assurance services, including:

• Assurance Reviews – a limited review providing credibility without a full audit.
• Agreed-Upon Procedures – bespoke financial checks tailored to specific needs.
• Internal Audits – governance and risk management evaluations.

Streets Audit LLP is registered to conduct audit work in the UK and Ireland through the Institute of Chartered Accountants in England and Wales (ICAEW). Details about our audit registration can be viewed at www.auditregister.org.uk for the UK and www.cro.ie/auditorsforireland under reference number C001217999.

How we add value to the audit process

At Streets Audit, we go beyond compliance. Our approach includes:

• Pre-Year-End Planning – proactive tax and financial planning to ensure a smooth audit.
• Key Issues Document – highlighting areas of concern and actionable insights.
• Partner-Led Service – direct access to experienced audit professionals.
• Financial Reporting Support – helping improve accounting systems for future efficiency.
• Stakeholder-Friendly Reports – presenting financial data in a format that’s easy to understand.

Additional and related services

We support our audit with financial advisory and compliance services, including:

• Corporate Tax Compliance and Advisory
• R&D Tax Credit Claims
• Capital Allowance Tax Advisory
• Director Remuneration Planning
• Grant Audits
• International Tax Advice

Get a quote or submit a tender request

Whether you require a statutory audit, a voluntary audit or related assurance services, we would be delighted to discuss your needs.

Contact us for a no-obligation consultation, quotation or to submit a tender request. Please complete the contact form below, email info@streets.uk or call your local office.