For many companies an audit is a legal requirement, based on the size, the trading sector of the company or the trading vehicle.
We at Hurkan Sayman & co understand that the annual audit can sometimes feel like a disruptive and expensive exercise that only benefits the statutory authorities; but we also see auditing as an opportunity to help our clients, as follows
Our audit report gives credibility to the Financial Statements. Potential lenders or purchasers know that they can rely on the accounts for their truth and fairness in order to make decisions about your company; for example providers of finance (such as banks) appreciate the value of an unqualified audit report in assessing risk. Indeed without audited accounts you may find yourself subject to higher rates of interest.
Our audit includes an appraisal of your company’s accounting system identifying weaknesses which could result in inaccuracy, or worse, fraud. Fraud is not something any of us like to consider as being possible but sadly it is increasingly common, particularly during times of economic slowdown. Whilst an audit is no guarantee against fraud, the very fact that your company’s accounts are audited serves as a strong deterrent.
Our audit gives you a clearer picture of how your company is performing by highlighting potential problem areas. It can be the starting point for some very useful discussions about your business, which often leads to improvements in efficiency and profitability.
Our audit team can help with:
• Statutory audits
• Internal audits
• Specialist audits such as solicitors
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