Our Audit Philosophy and Method
Our aim is to carry out a cost-effective audit which is in accordance with the highest standards of professional practice.
We approach audit assignments with a certain degree of professional scepticism and base audit conclusions on objectively assessed audit evidence.
Communication is key to a successful audit. We think it is important to listen to our clients and consider the implications of what they tell us - not ony during the audit assignment but throughout the year.
We aim to assist our charity clients in preparing, as early as possible, for changes in accounting and disclosure requirements and for ensuring that all relevant issues are addressed.
The annual audit cycle
Planning - The aduit planning meeting provides the opportunity to discuss important events in the year, the systems and risks related to the charity, our audit approach, agree deliverables and decide timetables.
Interim - During our field work, any exceptions identified will be investigated. Where appropriate these will be discussed with the charity and cleared appropriately.
Final - At the final stages of the audit we will discuss the matters arising from the audit at a close down meeting. Once all issues are cleared we will produce the financial statements for approval by the board.
AGM - The final audit communique (FAC) explains how we have carried out the audit, the risks identified and adjustments made, and our recommendations for improvement.
We understand a change of auditors can feel like a major disruption. This is why we aim to make the transition as smooth as possible. We have carried out this process many times for our charity clients and know what works to ensure a seamless move.
For charities who are below the audit threshold we can perform an independent examination or provide one-off tax and accounting advice if required.