A lot of companies dread the audit process, so here at Torr Waterfield we aim to make the process as pain free as it can be. The way we do this is:
- Keep the audit team as consistent as possible year on year to gain an in depth knowledge of how the business operates
- Keep in depth notes of the business which are updated each year so that new members of the audit team can learn about the business
- Work with the client to establish a timeframe for when the accounts will be prepared by the TW accounts team so that the audit team can then audit them
- Establish where records are kept and how they are filed so that the audit team can locate them themselves as opposed to asking members of staff within the business to dig them out
- Regularly update the client on progress and give early indication of any issues that there may be to keep them in the loop and included in what is happening
These are just some of the ways Torr Waterfield aims to make the audit process as stress free as possible.
If you would like any further insights into the audit process please contact the office on 0116 242 3400.
Phil Hinde – Audit, Accountancy & Tax