Audit

An audit is a helpful and useful exercise for clients to take stock of their business performance - regardless of whether or not it is a banking or legal requirement. Companies that qualify as small companies under the Companies Act 2006 are usually exempt from audit, unless they are members of a group or are charities and are required to follow the charity audit thresholds. A company is small if for both the current year and the previous year it meets two out of three of the following criteria:

Turnover less than £10.2 million
Total assets less than £5.1 million
Number of employees less than 50

These limits apply from periods commencing on or after 1 January 2016.

At ECL Howard Watson Smith we are committed to conducting audits ethically and independently. Our audit starts with a full review of your systems to enable us to fully understand how you operate. We not only assess how your business has performed but also identify any risks or weaknesses that could be adversely impacting on growth and success. We therefore add value to your organisation by showing you how further improvements can be achieved.

In addition to carrying out statutory audits we can provide Assurance services to specialist sectors with specific reporting requirements such as Charities.

A recent initiative from the Institute of Chartered Accountants in England and Wales has seen the development of Assurance reports.  These have been developed to provide an element of assurance to the company’s directors, which is more than the traditional accountants’ report but less than an audit report.

As registered auditors we have a commitment to upholding the highest quality and technical standards and our training structure and stringent internal controls ensure that this is achieved. As part of the added value service, clients will also receive regular contact with a prinicipal or senior members of staff to ensure that they have all the information necessary to operate their businesses as effectively as possible.

If you wish to discuss our services or arrange a meeting, telephone Martin Wright on 01525 374439