Assurance Reports are a quicker and more affordable way to demonstrate the credibility of your financial statements and the health of your business.
For some small and medium-sized businesses, the costs of a statutory audit can outweigh the perceived benefits. However, there are other forms of assurance that are more cost-effective and can be better suited to the needs of smaller businesses.
A review engagement can often offer the solution – meeting the needs of smaller companies without the cost of a full statutory audit. This form of engagement provides less assurance than an audit but still increases the credibility of the financial statements – which is of particular use to securing additional borrowings or investment.
Features & Benefits
Review engagements are prepared in accordance with international standards (ISRE 2400) and are performed by staff with the expertise to carry out a statutory audit. During the process, issues such as going concern, fraud or non-compliance with laws will be highlighted and assessed.
This can give peace of mind to users of the financial statements from the enhanced assurance provided by an objective independent accountant.
Additionally, the review engagement provides the flexibility for us to offer bespoke advice based on your individual circumstances. As part of the engagement, we will perform a systems review, which can help to optimise your financial reporting processes and help to improve efficiency – reducing the likelihood of errors occurring.
This can provide valuable feedback and assistance to businesses with plans for growth, or for businesses hoping to sell in the future.
How We Work
Before quoting for our services, we will sit with you over a cup of tea or coffee and discuss your business. Once we have an understanding of your business and its unique requirements, we’ll explain how our service can be of benefit to you.
As a client of Aston Shaw, unlimited advice and support come as standard. You can call, email or pop into any one of our offices as much as you like and we’ll always do our very best to assist you.
Louise Tiller, a Bookkeeper here at Aston Shaw explains how you can still benefit from having a Bookkeeper even if you already have an Accountant. In short, the answer is YES! Your Accountant finalises your accounts on a quarterly and yearly basis while your bookkeeper analyses your data on a weekly or monthly basis, communicating […]