Why and when is external auditing necessary?
An independent assessment of your accounts to help manage risk and determine the effectiveness of your financial reporting systems and management controls.
The reasons why you need an audit will vary. It may be due to the size of your company, the area you are in for example travel agents, solicitors and charities or, it may be required by your membership/shareholders. At Wellers, we treat the external auditing of our clients as much more than just an exercise to ensure you are compliant with legislation.
Our approach to a review of your accounts is to incorporate into this process an assessment of the robustness of your in-house systems, controls and processes This meticulous and thorough review then allows us to provide you with:
Insight - as to the effectiveness of your finance function
Recommendations - on where efficiencies can be achieved, and time and money saved
Confidence - as to the accuracy of your financial statements and that your compliance and legal responsibilities are being fulfilled