ACCOUNTING

ACCOUNTING

Accounts preparation and internal auditing are part of our day to day activities at Connect Advisory Partners Ltd. With the current regime of filing deadlines and penalties, timely service has become all the more important. We pride ourselves in getting our clients accounts and audits completed on time, well before their filing deadline.

Some consider historical accounts as only useful for satisfying statutory obligations. We however believe that the way your company has performed in the past can be a vital tool in planning for the future and can be used to assess areas of a business that require most attention.

Using the latest computing systems, we will prepare your accounts promptly and efficiently. We will then provide you with a clear explanation of your accounts and tax situation to ensure that you have a full understanding of the figures prepared for you.

As Internal Auditors, we can cater for all business sectors who require an internal audit.

You may want the assurance of internally audited accounts when dealing with potential finance providers or purchasers or indeed banks, which require audited accounts as a condition of an overdraft facility.

Other benefits of an audit include:
• Key suppliers may want assurance of your companys financial health.
• Revenue & Customs may require audited accounts.
• The audit provides reassurance to you that you are presented with a faithful record of your companys financial performance and position.
• The audit helps to detect fraud and there is the risk the accounts can contain undetected errors.
• Now Companies House will randomly examine accounts to check high standards have been met so an audit will help to achieve this.
• With present money laundering compliance measures, an audit will provide greater assurance to the directors of the accuracy of the financial statements
• Provision of audited accounts to credit agencies will enable access to further finance
• Audited accounts can aid with succession planning as your business grows.
• We can report on any operational weaknesses in your accounting systems and readily make recommendations for their improvement.
• The audit can identify any potential going concern problems at the outset of an audit and this will also aid cash flow.
• Audited accounts will reduce the risk of Revenue & Customs commencing an investigation as now most other audit exempt companies probable will have submitted non-audited accounts and so you will save cost and time associated with a potential investigation.
• If family parties are involved in your business now or in the future, an audit would enable the inspection of the accounts by an independent person who can look at the business objectively and manage any potential conflicts that may arise in the future.
• In all our audits, we aim to ensure procedures are in place at all levels to ensure that all our audits are conducted in accordance with best practice and auditing standards.