Audit

Following the relaxation of criteria for the statutory requirement of an audit, many firms have turned their backs on this area of activity, but at Moulton Johnson we are still keen to be able to provide our clients with all the services that they need.

So, what is an audit and why would I want one?

An audit involves obtaining evidence about the amounts and disclosures made in financial statements, to give reasonable assurance that the financial statements are free from material misstatement. An audit may be required by law as a result of the size of your company, or by the nature of its trade or maybe just because the owners want the comfort that an independent opinion gives.

Due to the amount of work that an audit entails, the costs can be substantially higher than those to just prepare the financial statements. However, the benefits should not be overlooked. In addition to giving an opinion on the completeness of the financial statements, an audit can identify weak areas in the company's systems that can be preventing it improving its efficiencies and profitability, or limiting its potential to expand. Once the audit has been completed, we normally report directly to the company's Directors, not only on our findings, but also with our suggestions for how to improve the situation given the company's size and capabilities.

If you think that we can help you in this area and that an audit is needed or may be needed then give us a call so that we can discuss the matter with you in more detail