Posts Tagged ‘Auditors Worcestershire’

How to avoid a fake accountant

Monday, January 20th, 2014

Accountants are all the same, right?

Wrong.

Just about anyone who deals with numbers could call themselves an accountant. They don’t have to be trained or qualified in anything or be subject to monitoring from any recognised professional body.

Being ‘chartered’ means someone is professionally qualified and includes not only accountants but also surveyors and engineers. Chartered professionals have had to train to the highest standards there are and maintain a high degree of ethics and professional conduct. We’re also obliged to undertake regular technical training to ensure we can offer the best and most timely advice to our clients.

When you first come across an ‘accountant’, the Institute of Chartered Accountants in England and Wales (ICAEW) suggests asking:

  1. Are you a qualified chartered accountant?
  2. Do you offer the services and have the experience I need?
  3. Are you authorised to do audit work?

Some of the areas we can help businesses with include:

  • Planning your business, so accessing finance, preparing a business plan and advice on self-employment and limited company status
  • Starting your business – Tax advice for owner-managers and the employer aspects too, VAT, record keeping, forms and legal issues
  • Managing your business – we can advise on cash flow, budgeting, management accounts and employing staff
  • Expansion of the business – access to different types of funding, restructuring issues, exit planning

We also offer personal tax services from tax compliance and capital gains tax to estate planning and trusts.

Curo Chartered Accountants is also part of the ICAEW’s Business Advice Service. Chartered accountant members of this service offer a free hour’s advice to businesses and help guide them in their plans.  If you are interested in speaking with a qualified chartered accountant, please either get in touch direct on curo.info@curoca.co.uk or try the Business Advice Service on www.businessadviceservice.com

We look forward to hearing from you!

Curo Chartered Accountants

January 2014.

When is an audit necessary?

Monday, October 21st, 2013

Even if a company isn’t required to be audited by law, there can still be good reasons for appointing an auditor to undertake this exercise and produce an audit report.

Essentially, an audit provides reassurance that the figures in the financial statements are ‘true and fair’. Commercially speaking, this places the company in a strong position in the eyes of various stakeholders as a clean audit report lends more credibility to the accounts.

The audit requirements changed for companies with a year ending on or after 1 October 2012 and the changes are explained below.

If you would like to discuss how appointing an auditor could help your company, please contact Curo’s head of audit, Anna Madden on 01527 558539 or email Anna on anna.madden@curoca.co.uk.

Companies required by law to have an audit

The rules governing which companies are required to have an audit have changed. For company year ends ending on or after 1 October 2012, a company may qualify for an audit exemption if it is ‘small’. That means that it can satisfy 2 out of the following 3 criteria:

  • has assets worth no more than £3.26m
  • has an annual turnover of no more than £6.5m
  • has on average fewer than 51 employees

However, even if a company qualifies for an exemption based on the above criteria, it may still be required to undertake an audit after consideration of prior years’ results and group considerations. Additionally, some companies are specifically unable to take the exemption.

To discuss your audit options, contact Anna Madden, Curo’s head of audit on anna.madden@curoca.co.uk or call Anna on 01527 558539.