An assurance review is an ideal way to provide comfort to key stakeholders such as lenders, investors or key clients, without having a formal audit.
It is a voluntary exercise that is one step removed from an audit – just without a lot of the red tape, fewer demands on your time and significantly less costly than a full audit.
You may benefit from an assurance engagement if:
- Your lenders or investors would like additional checks but agree a full audit is not required
- Your suppliers will give you more credit if they think the financials are more reliable
- You would like a more in-depth review of your figures, but a more cost-effective and flexible review than a full audit
- Your business doesn’t have an experienced finance team, and you would like a secondary review to assure the quality of your figures
- You have experienced difficulties in specific areas, and would like to demonstrate that these have been addressed
- Your organisation has a high profile in the community and the accounts will be widely read, so additional assurance would be helpful
- You are preparing the business for sale and want to set a good track record
As a firm of chartered accountants, we are authorised to perform an assurance review in accordance with internationally accepted standards.
We’ll cover the key areas of business risk for your organisation plus any areas that you’d specifically like reviewed.
Your annual financial statements will include an extended Accountants’ Report, so everyone who reads them can see that an independent review has taken place. This added assurance lends credibility to your accounts.
For more information or help from one of our audit specialists, please contact us using our enquiry form.