Accountancy and Audit Services
Our firm offers both statutory and non-statutory audits, and we have an experienced team carrying out audits for a wide range of sectors.
Every audit is tailored to meet the entity’s specific requirements. During, and at the conclusion of the audit, advice will be given where appropriate to improve your entity’s procedures.
Why do companies need an audit and what are they?
An audit is an independent verification, typically supported by some form of written opinion. It is designed to provide assurances to one party on another party’s actions.
The most common form of audit derives from a requirement of the Companies Act which is the legislation that governs all companies in the United Kingdom. This is because all financial statements must be, in the opinion of the directors, true and fair. An audit report confirms that this opinion has been ratified by a competent and qualified independent person.
There are exemptions from the statutory requirement for an audit for companies that meet the criteria of a small company , however there can be advantages and benefits to a company in having an audit, such as: –
- Confirmations that internal controls are efficient. for e.g. auditors have often uncovered issues with revenue recognition and even completeness of income (missing sales) due to deficient systems.
- Provides further assurances to 3rd parties such as banks, creditors and even staff that the accounts are free from material misstatement.
- An audit can uncover instances of fraud theft and misstatement of assets etc. and acts as a deterrent to malpractice by the physical presence of auditors thereby reducing the risk of these matters occurring.
- Where there are multiple sites in a business the auditors can be used to health check branches or offices which can reduce the cost of doing this in-house.
For companies that fall under the statutory requirement for an audit it may be worth considering your audit fees. All auditors follow the same standards in auditing laid down in our professional standards so picking an auditor often comes down to location and cost.
Many companies will be able to save on audit compliance fees by moving the audit function to a smaller regional audit firm such as Pearson Buchholz. To arrange a meeting with our audit partner, please contact Samantha Daniels.
Our Accounts and Audit Specialist
Samantha J Daniels
Samantha joined the Oxford office in 1989 and undertook professional training with the firm. She qualified as a Chartered Accountant in 1995 and was appointed as Audit partner in September 1999.
Preparation and finalisation of annual financial statements for: –
Charities and Not-for-profit Organisations
Year end journals such as tax provisions and other non-routine adjustments
Our accounts team are experienced in working with the majority of the ‘off-the-shelf’ accounting packages such as Sage and Quickbooks and can therefore assist the year-end process as much as possible by providing you with accounting adjustments in a format that is familiar to you.
Our accounts team’s core objective is to: –
1. Review your accounting records when they are submitted to us immediately by a suitable qualified member of staff to ensure we have all necessary documentation at the outset to complete the accounts.
2. Keep you informed of the progress during the preparation of the accounts and to inform you immediately if any further information is needed.
3. Submit to you draft accounts as efficiently as possible. The accounts team, on avegage, will return some draft accounts to you within 7 weeks of submitting your accounting records to us.
4. Use the latest software to ensure that your accounts comply with all areas of legal, accounting and tax requirements.
5. Be trained to the highest possible standards and ensure all accounts produced are subject to our internal quality control. We do not outsource any accounts preparation work.
Our Accountancy Specialist
Ian J Hudson
Ian joined the company in 1994 despite the fact that, when leaving the interview, he drove into the car park wall outside the office window.
He started with the company straight from University where he obtained a BA Hons degree in Accountancy. His first role was as an accounts junior. Ian began training in 1995 with ACCA, and qualified as a Chartered certified accountant in 2000.
Accountancy Case Study
“I don’t know where the time goes, but our association with each other goes back twenty years. I can honestly say that we have never considered using any other firm of accountants and have always had the best of service and advice relating to all corporate and tax matters.”
“We initially started with Roger Pearson, who was then a partner at Casson Beckman at the time of our 1995 annual accounts audit, and continued with Roger when he started Pearson Buchholz. You have carried out our annual accounts audit from the year 1998 and right up to the present day.”
“It is a testament to Pearson Buchholz that the young auditors who spent a few weeks each year crammed into a corner of the office have graduated into directors of the practice. Samantha Daniels and Ian Hudson continue to be experts in their field, which enables me to pick up the phone, at any moment, and get the advice that I need.”
“In the last few years Marc Garlick has undertaken the role onsite as auditor. His cheery disposition and hard work is always welcome at that time of the year. I know I speak on behalf of the other directors, Rowland Kendrick-Thomas and Simon Bond, in endorsing our long and continuing relationship.”
Talk to An Advisor
At Pearson Buchholz our expert team can provide you with specialised accounting and audits advice, expertly tailored to you and your business. Call today on 01865 865800 to find out how we can help.