What is a Statutory Audit?
Statutory audits are legally required to review the accuracy of a company’s financial records. The purpose of a statutory audit is the same as the purpose of any other type of audit: to determine whether an organisation is providing a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records, and financial transactions.
Do you need to complete a Statutory Audit?
Your company must have an audit if at any time in the financial year it’s been:
- A public company (unless it’s dormant)
- A subsidiary company (unless it qualifies for an exception)
- An authorised insurance company or carrying out insurance market activity
- Involved in banking or issuing e-money
- A Markets in Financial Instruments Directive (MiFID) investment firm or an Undertakings for Collective Investment in Transferable Securities (UCITS) management company
- A corporate body and its shares have been traded on a regulated market in a European state
As seen above, not all businesses need an audit, but that doesn’t mean you shouldn’t get one done. If you are a growing business or considering a sale/merger, a voluntary audit could help identify areas of risk, highlight potential improvement in your business, and make you more appealing to investors.
Why choose Windsor Audit?
Windsor Audit tries to ensure that the auditing process is straightforward and seamless for you. We build a time efficient and constructive relationship with you, as well as staying proactive in letting you know what we need and when. We plan our statutory audits to meet your compliance needs and review any areas of concern you may have.
We focus on offering a tailored and cost-effective auditing service which always takes risk and regulation into account. Every aspect of our service is concentrated on keeping you compliant with changing rules and professional standards, as well as helping you to achieve your business objectives.
Windsor Audit Limited is registered to carry out audit work in the UK by the Institute of Chartered Accountants in England & Wales (ICAEW). Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C003506654.
For further information, please contact Daniel Mould (Director):
+44 (0)20 7183 9351