Audit Service

An audit is the examination of the financial report of an organisation - as presented in the annual report - by someone independent of that organisation.

The purpose of an audit is to form a view on whether the information presented in the financial report, taken as a whole, reflects a true and fair view of the financial position of the organisation at a given date. Taken together, accounting and auditing are important in business management and stakeholder decisions. Therefore, auditing of accounts is an onerous task which can only be carried out by an independent registered auditor.

Which businesses need to carry out an audit?

For accounting periods starting on or after 1 January 2016 audit thresholds have increased and companies are exempt from having statutory audit if they meet 2 of the 3 following conditions.

Turnover below £10.2 million

• Balance sheet total below £5.1 million
• Less than 50 employees

This means that most small to medium sized businesses are exempt from conducting an audit.

What we offer

At Chowdhary & Co, we have a dedicated qualified member of staff who specialises in carrying out Audits. Over the years we have acquired experience of small audit clients to large audit clients with turnover in excess of £100 Million. These have ranged from Online businesses, Petroleum industry, Hotel groups and small PLCs and LLPs.

Our audit service is very cost effective. If you are currently conducting audits with excessive costs, you could benefit from taking a quotation from us.

If you are not sure whether your business is required to have statutory Audits, then contact us for professional advice.