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ABDS is a firm of Chartered Accountants and Statutory Auditors registered to carry out audit work by the Institute of Chartered Certified Accountants.
Our team has vast experience of such audits with all sizes of clients in various sectors such as:
• Owner managed companies
• Property, engineering, building, retailing, motor vehicle franchises
• Industrial and Provident Societies and Friendly Societies
• Solicitors (accounts examinations)
As well as statutory audits we may perform independently audited reports in respect of grant applications.
Such audits may be combined with accounts preparation and tax minimisation.
Why have an Audit?
Whilst annual business accounts are required to meet your business’ statutory obligations, if they are prepared in a timely and economical way, they can provide valuable information for decision making and planning.
At ABDS we actively manage the timing of the accounts production process to ensure that you meet your statutory responsibilities and through this information, take advantage of early tax planning opportunities.
Audits provide a cornerstone to financial reporting. They furnish valuable and reliable information to banks, tax authorities and others who desire to make financial decisions.
Although audits are decreasing as a result of changes in the criteria requiring them, there are nevertheless still a large number of Medium-sized Enterprises requiring an annual audit. It is required by statute for businesses with an annual turnover of more than £6.5m or whose gross assets exceed £3.26 million.
An ABDS audit provides assurance that the financial statements are reliable, and that they give a true and fair view of the results and activities of a business.
Our approach to your audit can transform what is deemed an unnecessary cost by many SME’s into a valuable annual health check for company directors. Our aim is for our clients to view the annual audit, whether statutory or voluntary, as an opportunity, not an overhead, and we believe that our processes can actually serve to enhance the operation of our clients’ business by providing our clients with early warnings, open communication and the resolution of issues arising.
In order to perform effective audits, we must not only audit our clients’ financial records, but also be familiar with clients’ operations, the industries in which they operate and the economic events which have impacted upon their businesses.
We at ABDS besides helping you meet the statutory requirements; we also take the opportunity to conduct a review of your financial and management systems. This can often result in our identifying potential problem areas and recommending opportunities to improve your business performance. We discuss the problems and opportunities with you and help you implement any agreed solutions.
The ABDS team see the preparation of your annual report as an opportunity to enhance your external and internal image. A well-prepared report can have a considerable positive impact on the perceptions of owners, customers and suppliers, and even your own staff - all of which greatly improves your business prospects for the future.
In short, we consider the annual audit of a company's records to be a part of the comprehensive service we offer to help achieve the goals of the owners of the business. We are focused on delivering a quality and cost effective audit that goes beyond the compliance with a regulatory function. We will also make recommendations to you based on our audit findings, to help you improve your internal financial and control systems and to help you improve the performance of your business.
For further information, or if you wish to speak to a member of our Audit Team, please call us on 023 8083 6900 or go to Contact Us