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Auditing & Reporting
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Auditing & Reporting

What does a financial auditor do?

The requirement for an audit is set out by The Companies Act 2006 and the scope of audit work undertaken is set out by the Auditing Standards Board, the purpose of which is to produce an Audit Report addressed to the shareholders that forms part of the statutory financial statements.  The Audit Report confirms that the financial statements give a true and fair view.  This gives confidence to the shareholders that the accounts presented by the Board of Directors are reliable.

If your:

  • Turnover is in excess of £10.2m
  • Assets exceed £5.1m
  • Have more than 50 employees on average
  • Articles or shareholders request an audit

Then you need an audit.  This can ONLY be conducted by a Statutory Registered Auditor.

What is a statutory registered auditor?

MMO is registered to carry out audit work.  ICAEW registration number C009177139.  Our Senior Statutory Auditor approved to carry out the audit of annual accounts and/or consolidated accounts is Gill McIntosh. Emma Jordan is a director of auditing services.

As registered Auditors, we audit SME’s, pension schemes, charities, and other regulated areas such as client money for solicitors and surveyors either on site or at our offices. In addition to statutory audit reports we also undertake Independent Examinations and other Assurance Assignments as required. 

The value of an audit

In an Owner-Managed Business the shareholders and the directors are often the same people resulting in the question – what value is an audit?  Our experienced audit team is both compliant and efficient, we dig deep beneath the surface of all those numbers to understand what they actually mean as we know that it is only when we understand your business inside and out that we can provide you with commercially sound advice. 

With MMO you can be sure to benefit from an audit with added value – call or contact us today to find out more!