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Brighton Office: 01273 202311

Wimbledon Office: 020 8946 1212

Statutory Audit Services

We understand that annual audits can sometimes feel like a burden. That’s why Hartley Fowler’s London and Brighton teams take a different approach. Our accounting and auditing services are designed to provide valuable insights and support, not just compliance. Discover how our accounting and auditing service can help you through the process.

Why Choose Our Statutory Audit Accountant Services?

There are many reasons why you should entrust your accounting and auditing to us:

  • Our team are registered auditors and each statutory audit is carried out in accordance with clarified International Auditing Standards (UK and Ireland)
  • Our qualified team approaches statutory audit work with an aim of causing minimal disruption during the process
  • We take time to review and document your internal control system, identify any potential weaknesses and offer our recommendations, if necessary, in a management letter at the end of the statutory audit.

Outstanding Statutory Audit Accounting Services

We pride ourselves on the quality and efficiency of our statutory audit services. Our files and systems are reviewed regularly by external monitoring agencies to maintain our high standards.

Get the timely financial reporting you need to make informed decisions. We understand the importance of prompt information for management and shareholders. We collaborate with you to establish deadlines and consistently meet them, even under tight timeframes, as proven by our work with UK subsidiaries of foreign holding companies.

Next Step: Call our Statutory Audit Services Team

Looking for support with your annual statutory audit and compliance? If you have any questions regarding outsourcing your audit services, please call us today. Alternatively, book a free initial consultation with one of our experts.

FAQs

What is a statutory audit?

A statutory audit is a mandated review that assesses the precision of a company’s financial statements and records in accordance with legal requirements.

Why is a statutory audit important?

A statutory audit assesses whether an organisation’s financial statements accurately reflect a true and fair representation of its financial performance and position, offering crucial and valuable insight. Compliance is essential to avoid penalties and legal consequences.

What is statutory audit vs external audit?

A statutory audit is a legal requirement, performed at the year-end to create an opinion of the company’s financial statement. In contrast, an external audit is conducted at the request of an organisation by an independent auditor. Its purpose is to provide an unbiased assessment of the financial statements and the overall financial health of the organisation.

Is a statutory audit compulsory?

Yes. If you’re a private limited company that meets certain requirements, a statutory audit is a legal requirement.

Who needs a statutory audit in the UK?

In the UK, most private companies will be legally required to undertake a statutory audit if they have two of the following:
*Over £10.2 million in turnover
*Assets in excess of £5.1 million
*More than 50 employees.

What is the difference between a statutory audit and a tax audit?

A statutory audit is a general audit of a company’s financial records, whereas a tax audit is solely related to an organisation’s tax records. The tax audit will review your tax return records, ensuring they’re correct. This is usually conducted by a chartered accountant and can be requested by HMRC every six years.

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