Paul Adams’ firm "Branston Adams" is licensed by the ACCA to carry out statutory audits. The audit service is open to all companies, however statutory guidelines where companies require an audit are: -
We use a pragmatic audit approach and normally expect to have audit assignments concluded within a month of attending the client's premises and ordinarily four months of the accounting reference date. All audit assignments have a timetable, which is agreed with management prior to commencement. A large number of our audits are for subsidiaries of overseas companies. We are told that our service is more personal, quicker and more efficient than the larger audit practices which form part of the worldwide partnership. As part of this work we report to the group auditor.
Company Law requires many limited companies to have their financial statements audited, while many other companies choose to have an audit carried out on their financial statements because of the benefits arising. Our audit procedure involves assessing financial management and reporting systems. We use the audit as an opportunity to identify investment and wealth management opportunities for our clients.
We have experience in auditing the accounts of a wide variety of businesses. Our clients include small, medium and large businesses. They represent industry sectors such as professional services, food importation, manufacturing, information technology and Landscape and Design.
You wish to have an audit on which you can rely and that causes minimum disruption to your activities. The key to achieving this is effective communication. We guarantee that you are involved at the planning stage and kept fully informed about the progress of our work.
We make sure your accounting procedures and internal controls are efficient and effective. The key features to our audit approach are:
- To identify potential areas of difficulty and likely solutions.
- To agree with you the information that you would provide.
- To agree the reporting timetable and key dates.
- To brief our staff and ensure they spend adequate time familiarising themselves with your business and systems.
- We have experienced audit staff who complete the audit effectively and efficiently.
- We ensure your financial statements comply with accounting regulations and statutory obligations.
- We send a management letter where necessary to highlight matters needing attention.
- We meet your reporting timetable.
- Where required we attend at board meetings and the Annual General Meeting.
- We segregate important and minor weaknesses with constructive suggestions for their improvement.
Adding value to the audit
- We are pro-active during the course of our audit work.
- We look for opportunities to advise you on how to improve controls and financial performance.