Audit and Assurance Services for Businesses
Statutory audits are still an important and beneficial tool for your business. Our team of registered auditors are legally entitled to conduct audits.
Why are audits important for business?
If you are wondering why you should have a statutory audit done for your business, here are some of the benefits:
- Statutory Obligations are Met: Meeting your statutory audit requirements is crucial to remain compliant with local laws and regulations. Our audit services ensure that your financial statements adhere to the necessary standards, helping you avoid potential legal issues, fines, or penalties. This protects your business and enhances your credibility in the marketplace.
- Identify and Assess Risks: Audits go beyond compliance—they help identify and assess risks that could impact your business. By examining your internal controls, financial processes, and operational workflows, we pinpoint areas of vulnerability. This proactive approach empowers you to take control and mitigate risks before they affect your financial health or operational integrity.
- Assess Financial Trends: Our audits provide valuable insights into your business’s financial trends. By analysing your financial data, we help you understand performance patterns, identify growth opportunities, and address areas of concern. This data-driven approach allows you to make informed decisions and improve your financial strategy.
- Provide Assurance to Funders and Stakeholders: A reliable audit gives potential funders and stakeholders confidence in your business. It verifies your financial stability and operational soundness independently, providing a reassurance that can be crucial when seeking new investment, securing loans, or building trust with key partners.
- Benchmark Against Similar Organisations: Our audit services offer more than just a review of your financial statements—we also benchmark your performance against industry standards and similar organisations. This helps you understand how your business is performing in comparison to peers, allowing you to identify strengths, improve weaknesses, and remain competitive in your sector.
Our Audit and Assurance Services
Our audits provide independent, external confirmation of accurate figures, helping identify ways to enhance internal financial controls. With over 100 years of experience, our established auditors deliver detailed audit findings reports. Our process includes a thorough risk assessment, often uncovering areas to minimise risk and improve internal controls. All Bevan & Buckland audits undergo a three-stage file review process to ensure exceptional quality.
Grant bodies often mandate independent audits of grant claims before or after they release the money. We have extensive experience conducting grant audits for various entities, including the Technology Strategy Board (TSB), the Welsh European Funding Office (WEFO), local authorities and other grant-awarding bodies. We, therefore, understand the critical need for swift turnaround to maintain cash flow.
For Solicitors' Accounts Rules (SAR) audits, our seasoned team ensures compliance with the Solicitors Regulation Authority (SRA). We conduct audits in a manner that causes minimal disruption to your business, preparing the report required under the Solicitors Regulation Authority (SRA) Accounts Rules 2011 and preparing the SRA's Reporting Accountant's Checklist for your records.
