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  The Audit Process

Your accountant should be a friend of the business, a person that the business will turn to for advice and to bounce ideas off. Your accountant may also be your Companies auditor. Different businesses have different needs of their advisors.
The audit is a legal requirement for Charities, Pensions, Clubs, SAR and companies with a turnover of £1million or more and in many other situations. However the audit is so much more than a strict check-up and production of statutory accounts.

The audit process involves gathering information on how a business functions, the systems, key people, markets and customers. A good auditor will use this process to pool information from this and other sources and use it to the advantage of the business client. This information can be used to assist in business appraisal and forward planning. An objective appraisal of weaknesses and strengths can lead to recognition of training needs or restructuring. In this way the audit can be used as an opportunity to add value to the business.

If you think that you would like the audit process to be the first step in your business improvement programme then give us a call and join our winning team.
At the end of a Straughans audit we expect that you will have:
 
• A clear understanding of the financial performance of your business,
• Any significant weaknesses pointed out and remedies discussed with you,
• Discussed taxation liabilities and ways to mitigate them in the future,
• Considered how to plan the way forward for the business,
• Arranged to meet regularly with the director to review progress through the year, and to coordinate all services provided by Straughans,
• A clear understanding of the costs of the total service in the future and the terms on which it is given, and eliminated concerns over additional and unexpected charges.

Straughans audit assignments are Director-led to ensure a personalised service .

 		 
 
For further information or to become a part of our winning team contact us at:

Hadrian House, Front Street, Chester Le Street, Co. Durham, DH3 3DB
Te: (0191) 388 3377  Fax: (0191) 387 1745   Email: straughans@straughans.co.uk
Straughans Limited (trading as Straughans) is a limited liability company registered in England and Wales under No 0354727. Registered office: Hadrian House, Front Street, Chester le Street, Co Durham, DH3 3BB