Audit & Assurance
Zome is an audit practice registered with the ICAEW (Institute of Chartered Accountants in England and Wales)
What is a statutory audit?
An audit generally is the examination of the Annual Report and financial statements of an organisation. The purpose of an audit is to form a view as to whether the information presented in the Annual Report and financial statements taken as a whole, reflects the financial position of the organisation at the date of the accounts.
When examining the financial report, auditors must follow auditing standards which are set by a government body. Once auditors have completed their work, they write an audit report, explaining what they have done and giving an opinion drawn from their work.
Do you require a statutory Audit?
The most common criteria that a Company is legally required to have an audit is determined by their size namely:
Are Two of the following thresholds exceeded:
- Turnover £10.2 million
- Balance Sheet Total (Total Assets) £5.1 million
- Number of Employees 50 employees.
There are exemptions which need to be considered e.g. a listed company (unless dormant), a subsidiary company.
Non Statutory audit.
The directors may request an audit as provides additional assurance as to the accuracy of the accounts to third parties including financial institutions, local & central government departments and potential clients.
Our Process
Our structured audit and assurance process is designed to be thorough yet non-intrusive:
Pre-Audit Planning
We gather information about your firm and its financial environment to tailor our audit approach effectively.
1
Fieldwork
Our experienced auditors conduct detailed evaluations of your financial records and processes, utilising the latest tools and methodologies.
2
Reporting
We provide a comprehensive report detailing our findings, including any discrepancies, risks, and recommendations.
3
Follow-Up
We offer follow-up reviews and ongoing advice to ensure that any recommended changes are implemented and to assist with any emerging issues.
4
Continuous Improvement
We strive for continuous enhancement of your financial practices, ensuring long-term compliance and efficiency.
5
How We Work with You
Our approach to working with architectural firms is built on collaboration and understanding:
Tailored Service Delivery
We adapt our services to fit your firm’s unique operational needs and financial situations.
Clear Communication
Throughout the audit process, we ensure clear and open communication, keeping you informed of our progress and findings.
Partnership Approach
We see ourselves as partners in your business’s success, offering not just audits but comprehensive support to enhance your financial operations.
Expert Guidance
Our team of experts provides guidance based on deep industry knowledge and years of experience in architectural accountancy.
Choose Zome Accounting
We endeavour to establish an effective working relationships with management and other advisers allowing us to deliver a cost effective audit whilst ensuring high quality compliance. We are of a size that in most appointments we general keep the same partner and manager for the period audit team so the wheel is not invented each year. We have all the technical knowledge processes and procedures to assist with any audit issues. We are specialist audit of UK subsidiaries of oversea company, throughout the years we conducted the audit of hundreds of UK Subsidiaries from group based in US, France, China, Italy, Israel.
