AUDITING

Useful assurance

We can provide your company with a compliant, high-quality audit of its accounts by an auditing accountant. An audit provides assurance that the financial statements are reliable, and gives a true and fair view of the results and activities of the company. Audits furnish valuable and reliable information to company directors, banks, tax authorities, shareholders and others who are involved in making financial decisions.

 

There are a large number of medium-sized companies requiring an annual audit where they no longer meet the conditions to qualify as small companies. Your company qualifies as a small company only if it meets at least two out of three conditions: annual turnover is less than £6.5m; gross assets do not exceed £3.26m; and average number of employees must not be more than 50. If it fails to meet at least two of these conditions then it will require a statutory audit.

Our aim is for you to view your annual audit, whether statutory or voluntary, as an opportunity, not an overhead. We will make recommendations to you based on our audit findings, to help you improve your internal financial and control systems. In so doing, we believe that our independent assurance and challenging objectivity can actually serve to enhance the operation of your company by providing you with early warnings of issues and with help to identify solutions. 

Charities

We have many clients that are charities and audit requirements also effect charities. The purpose of this is to give the charity’s trustees, supporters, beneficiaries and the wider public, some independent assurance that the charity’s money has been properly accounted for and accounting records kept. For charities with an income of more than £25,000, but not more than £1 million, provided that if its gross income is more than £250,000, its gross assets (fixed assets plus current assets) are £3.26 million or less, the trustees can choose for an accountancy firm to carry out either an audit or an independent examination of their charity’s accounts. An Independent Examination is a ‘light touch’ scrutiny involving the examiner checking for specific matters only and it not involve forming an opinion as to whether the accounts are ‘true and fair’. For larger charities, there is no choice - an audit is required. Whether a charity chooses an independent examination or an audit, our recommendations are always designed to help the charity improve how it manages its money, enhancing how the charity operates.

OUR HISTORY

Audit for Business Development and Solutions Limited is a firm of Chartered Accountants and Statutory Auditors registered to carry out audit work in the UK and Ireland by the Association of Chartered Certified Accountants. The audit company is independent of Accountants for Business Development and Solutions (ABDS). ABDS is 100% owned by and under the control of the Principal, Mrs Lavinia Newman. Audit for Business Development and Solutions Limited is 51% owned by, and under the control of, Mr Peter J Ham Senior Statutory Auditor, and 49% owned by Mrs Lavinia Newman.

Audit for Business Development and Solutions Limited
Company Number: 06337350 (England & Wales)

Registered to carry out audit work in the UK and Ireland