Our comprehensive and non-invasive audit service results in a leaner, faster business. While meeting the demands of compliance, we use your audit results to recommend ‘real life’ solutions and improvements to help your business run more efficiently and improve the bottom line.
What is an audit?
The annual audit is a legal requirement for most established businesses. During the process, a qualified auditor will undertake an independent inspection of your accounts and finances to check for errors or inconsistencies.
1. Independent review of accounts
2. Client interviews
3. Written report signed and filed with Companies House
But an audit also serves a different purpose. Alongside filling a statutory requirement, an audit provides deep, independent insights into your business. This enables us to manage ongoing problems, predict future issues and overcome challenges.
This service isn’t an added ‘extra’ – it’s included as part of every audit undertaken by Macalvins as part of our mission to improve your business.
Are you exempt?
The annual audit is a statutory requirement for businesses who meet the revenue threshold. As of January 2020, you may qualify for an audit exemption if it has at least two of the following:
- An annual turnover of no more than £10.2 million.
- Assets worth no more than £5.1 million.
- 50 or fewer employees on average.