In the complex world of business, where different companies handle their finances in unique ways, audits and assurance are essential to make sure everything is clear and correct. Not all businesses need the same kind of services – it really depends on what kind of business you have and its size.
At WR Partners, we get that talking about audits can make some people nervous or unsure. That’s why we make things as easy and straightforward as possible for you. We’re here to help your business grow, using our years of experience in finance, and our keen interest in using new technology and innovative ideas. Think of us not just as your auditors, but as partners who are with you every step of the way, making sure your business’s financial details are all in order.
WR Partners have introduced Inflo software for the first time this year, and this has made the process run more smoothly. It is an easy piece of software to use and helps us to track where things are up to and communicate with the audit team. The team are knowledgeable and responsive and are on hand to deal with any queries.
At WR Partners, stepping into your world and truly understanding your unique narrative is at the heart of what we do. We’re not just auditors; we’re your extended family in the vast landscape of commerce and finance. With a rich heritage of expertise, our gaze is firmly fixed on the horizon of innovation.
We understand that your business doesn’t stop when our audit starts, and that’s why we will work with you to design an audit approach that fits your needs. Whether it’s delivering top-notch in-person audits from the comfort of your office, collaborating remotely with seamless tech-savvy solutions, or even blending both for a tailored fit, we’re equipped to support you. We believe that communication is key to success and that’s why we’ll keep you looped in and up to date every step of the way.
At WR Partners, your growth, your confidence, and your peace of mind are the very foundations of our approach, moulded by a tradition of excellence, yet agile enough to leap into the future with you. If your business is exempt for certain audits, you could still benefit from our tailored advice. For example, if you are a rapidly growing organisation or considering a sale, an audit can help to ensure your business is in the best shape possible to appeal to investors.
And beyond audits, other forms of assurance are also available, which can help reassure investors and stakeholders that your business is performing as expected, risks are being mitigated, and that you are complying with sector-specific legislation.
We conduct a wide range of audits at WR Partners and as such, we understand that specialist knowledge is required. That’s why we have individuals within our team who specialise in key audit areas, enabling us to provide you with the best possible service.
An audit is where your organisation’s records are checked to ensure that your financial statements are showing a true and fair view of your organisation’s financial position and performance. There are different criteria for requiring an audit depending on what type and size of organisation you are.
An audit of a company follows a standard process set internationally. It checks, on a sample basis, the accuracy of the financial statements of the company.
No, some companies can claim exemption – If you qualify as a small company, then you’ll usually be exempt from needing an audit unless you’re a member of a group.
If you meet two of the following criteria then you will qualify as a small company:
There are certain companies that require an audit by law, regardless of their size or income. Further information on this can be found on the GOV.UK website.
Auditing provides an independent check on the finances of the company and auditors can report on any areas where they see improvements could be made.
Some companies require an audit by law – link to ‘does my company need an audit’. An audit can be valuable even if you don’t need one by law to provide an independent check on the finances of the company.
No, small companies can claim exemption, but some small companies will still have an audit if an independent check of the finances of the company is required – for example if the shareholders are not involved in the running of the company or if the company is going to be sold.
If you meet two of the following criteria then you will qualify as a small company:
We love meeting new, exciting businesses. Get in touch with our team to see how we could enhance and protect your financial position.
Or if you’d prefer to speak to someone directly just give us a call on: 08000 664 664 or email: hello@wrpartners.co.uk.
"*" indicates required fields
