What is a Non-Statutory Audit?
A non-statutory audit is a form of audit which is not legally required. Statutory audits mainly focus on financial activities whereas a non-statutory audit is not limited to financial reporting. Non-statutory audits can be used for any part of an organisation. Our UK audit specialists can offer an insight into several areas, such as:
- Human Resource
- Client Satisfaction
Windsor Audit can provide an independent non-statutory audit that is tailored to meet your auditing needs. Following the completion of the non-statutory audit, Windsor Audit will create a report which can be used to assist you in making strategic business decisions. Our London audit specialists can help you to identify the areas of weakness that might be hindering your business growth and goals.
When would you need to complete a Non-Statutory Audit?
There are many occasions when an organisation may need to complete a non-statutory audit. Charities and non-governmental organisations are often asked to partake in non-statutory audits to meet the requirements of contributors or funding. Completing the audit can help gain assurance that the organisation financial practices meet the expected standards.
Creditors and investors regularly request an audit of the companies they do business with. In these circumstances, the non-statutory audit is conducted according to the required standards of the donors, grants, investors or creditors.
A non-statutory audit may want to be considered in the following instances:
- If you are a growing business or are considering a sale or flotation: Windsor Audit expert can help you certify you have your financials in order and are more appealing to investors.
- If you are an investment manager of a private fund: You will get medium to long term benefits in an audit by building a track record towards being licensed in the future and be open to outside investors.
- If you are a charity, you may be required to engage in a non-statutory audit: We can support you in ensuring you satisfy the needs of donors or grantors by verifying the effectiveness of your financial activities.
Advantages of a Non-Statutory Audit
There are several advantages to completing a non-statutory audit via Windsor Audit, for example:
- Our non-statutory audits are tailored to the specific needs of your organisation
- We do not unnecessarily conduct analysis on works that are not required or useful to your organisation in a non-regulatory context
- Non-statutory audits are often less in-depth so more cost-effective than a statutory audit.
- Similarly to statutory audits, our non-statutory audits provide an unbiased assessment of the organisation’s activities
- Windsor Audit can help identify potential weaknesses in your organisation
How can Windsor Audit experts help you?
We work with organisations across different industries on non-statutory audit reports. The objectives of the audit usually are bespoke, Windsor Audit tailors the service to the client’s specific needs. 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. We are registered statutory auditors.
Windsor Audit is a Registered audit firm in the UK and provides professional audit services. We also offer non-statutory audit services in Ireland. 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.
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