Audit

What is an audit?

An audit is a procedure carried out periodically by an independent party to assess the accounts and records of an organisation, to ensure that they have been properly maintained, are accurate and comply with established concepts, principles, accounting standards, legal requirements and give a true and fair view of the financial state of the organisation's affairs on the accounts date.

Who is required to have an audit?

An audit may be necessary for compliance requirements, to provide assurance to investors, or to review processes and controls.

Legally, companies that have or exceed any two or more of the following criteria are required to have external audit carried out by a Registered Auditor:

• An annual turnover of more than £10.2 million
• Assets worth more than £5.1 million
• More than 50 employees on average

Our Audit Services

Streets Audit LLP is registered to carry out audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk for the UK and www.cro.ie/auditors for Ireland, under reference number C001217999.

As registered auditors Streets Chartered Accountants undertakes audits for/provides:

• Companies
• Overseas parents with international subsidiaries
• Overseas subsidiaries with overseas parents
• Group structures
• Pension schemes
• Regulatory FCA (Financial Conduct Authority) Audits
• Registered charities
• Academies
• Travel agents and tour operators
• Reports and audits on law firms under the Solicitor Accounts Rules (SRA) Accounts Rules
• Reports to grant awarding bodies and funders

How do we add value to the audit?

We aim to add value to the audit process in the following ways:

• Through the pre year end preparation and planning, both to address any tax planning activities as well as to ensure the smooth, efficient and timely undertaking and completion of the audit process.
• Through providing you with a Key Issues Document
• Through our Partner led approach to your audit and audit affairs
• Through our understanding and specialist interest in both the work of our clients and the sectors in which they operate.
• Through the provision and advice on the development of your financial reporting and accounting systems to ease the audit process and to improve financial management as a whole.
• Through the presentation of the financial reports in an easy to understand format for non financial stakeholders, directors and managers.

In addition to undertaking a client’s audit in a timely and efficient manner, we will seek to add value through advice and support based on the audited accounts.

If you are looking for further information or for a quotation or tender submission concerning the provision of an audit then please use the contact form below.

Other Services

In addition to producing annual accounts and carrying out annual audits Streets Chartered Accountants also provides clients with the following:

• Bookkeeping Services
• Management Accounts
• Business plans and funding forecasts including, cashflows, profit and loss, and balance sheets
• Business Advice through BAS and our advisers

For more information, a quote or a free consultation, please email info@streetsweb.co.uk or complete the contact form below.