Statutory / Regulatory Audits
For organisations that require an audit for statutory or regulatory reasons associated with the filing of their annual and periodic financial information, McCarthy accountants can provide high quality Audit Services.
The purpose of a statutory audit is the same as the purpose of any other audit – to determine whether an organization is providing a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records and financial transactions
Our work takes into account all current and where appropriate, prospective auditing, accounting, and reporting regulations and guidance.
- Compliance with regulations – we can ensure your company is complying with all the latest regulations.
- Advice on exemption – we can advise you whether or not your company is required to be audited by law, or how you can qualify for the statutory audit exemption.
- We can advise on qualitative aspects of the company’s accounting practices and financial reporting.
- Advice on controls and processing system weaknesses – During the course of the statutory audit we will identify any areas in which there were material weaknesses in the internal controls and accounting systems. We can outline what those weaknesses are and make recommendations for improvement.
- Confirmation of accounting treatments including matters specifically required by other ISAs (UK and Ireland) to be communicated to the directors’
- Independent review of externally reported information.