{"id":182,"date":"2021-02-22T05:11:21","date_gmt":"2021-02-22T05:11:21","guid":{"rendered":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/?page_id=182"},"modified":"2021-02-22T05:52:42","modified_gmt":"2021-02-22T05:52:42","slug":"audits","status":"publish","type":"page","link":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/audits\/","title":{"rendered":"Audits"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:#e2e2e2;border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_2 1_2 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><style type=\"text\/css\">@media only screen and (max-width:1024px) {.fusion-title.fusion-title-1{margin-top:0px!important;margin-bottom:15px!important;}}@media only screen and (max-width:640px) {.fusion-title.fusion-title-1{margin-top:10px!important;margin-bottom:10px!important;}}<\/style><div class=\"fusion-title title fusion-title-1 fusion-sep-none fusion-title-text fusion-title-size-two\" style=\"margin-top:0px;margin-bottom:15px;\"><h2 class=\"title-heading-left\" style=\"margin:0;\">Audit<\/h2><\/div><div class=\"fusion-separator dashed-line\" style=\"align-self: flex-start;margin-right:auto;margin-bottom:20px;width:100%;max-width:50%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"border-color:#000000;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-builder-row fusion-builder-row-inner fusion-row fusion-flex-align-items-flex-start\" style=\"width:104% !important;max-width:104% !important;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-0 fusion_builder_column_inner_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;background-color:#f5f5f5;padding: 30px 30px 10px 30px;\"><div class=\"fusion-text fusion-text-1\" style=\"transform:translate3d(0,0,0);\"><p>&#8220;Do you know why you need an audit or why you should have one?&#8221;<\/p>\n<\/div><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-nested-column-0{width:100% !important;margin-top : 0px;margin-bottom : 20px;}.fusion-builder-nested-column-0 > .fusion-column-wrapper {padding-top : 30 !important;padding-right : 30 !important;margin-right : 1.92%;padding-bottom : 10 !important;padding-left : 30 !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-nested-column-0{width:100% !important;order : 0;}.fusion-builder-nested-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-nested-column-0{width:100% !important;order : 0;}.fusion-builder-nested-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-0{width:50% !important;margin-top : 0px;margin-bottom : 20px;}.fusion-builder-column-0 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 3.84%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 3.84%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-0{width:50% !important;order : 0;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 3.84%;margin-left : 3.84%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-0{width:100% !important;order : 0;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-2\" style=\"transform:translate3d(0,0,0);\"><p>The main reasons why you will be required by law to have a statutory audit are&#8230;<\/p>\n<ol>\n<li>You are a PLC or a banking, insurance or finance company (or a subsidiary of one of these);<\/li>\n<li>You are required by your professional or trade organisation to have your accounts audited;<\/li>\n<li>Your shareholders do not agree to opting out of the audit.<\/li>\n<\/ol>\n<p>For accounting periods starting on or after 1 January 2016 audit thresholds are aligned with the new qualification as a small company, meaning companies (including LLP&#8217;s) are exempt from having a statutory audit if they meet 2 of the 3 following conditions&#8230;<\/p>\n<\/div><ul class=\"fusion-checklist fusion-checklist-1\" style=\"font-size:16px;line-height:27.2px;\"><li class=\"fusion-li-item\"><span style=\"height:27.2px;width:27.2px;margin-right:11.2px;\" class=\"icon-wrapper circle-no\"><i class=\"fusion-li-icon fa-caret-right fas\" style=\"color:#3f3f97;\" aria-hidden=\"true\"><\/i><\/span><div class=\"fusion-li-item-content\" style=\"margin-left:38.4px;\">Turnover below \u00a310.2 million<\/div><\/li><li class=\"fusion-li-item\"><span style=\"height:27.2px;width:27.2px;margin-right:11.2px;\" class=\"icon-wrapper circle-no\"><i class=\"fusion-li-icon fa-caret-right fas\" style=\"color:#3f3f97;\" aria-hidden=\"true\"><\/i><\/span><div class=\"fusion-li-item-content\" style=\"margin-left:38.4px;\">Balance sheet total below \u00a35.1 million<\/div><\/li><li class=\"fusion-li-item\"><span style=\"height:27.2px;width:27.2px;margin-right:11.2px;\" class=\"icon-wrapper circle-no\"><i class=\"fusion-li-icon fa-caret-right fas\" style=\"color:#3f3f97;\" aria-hidden=\"true\"><\/i><\/span><div class=\"fusion-li-item-content\" style=\"margin-left:38.4px;\">Less than 50 employees<\/div><\/li><\/ul><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-1{width:100% !important;margin-top : 0px;margin-bottom : 20px;}.fusion-builder-column-1 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-1{width:100% !important;order : 0;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-1{width:100% !important;order : 0;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-3\" style=\"transform:translate3d(0,0,0);\"><p>For accounting periods starting before 1 January 2016 and ending on or after 1 October 2012 small company, meaning companies (including LLP&#8217;s) are exempt from having a statutory audit if they meet 2 of the 3 following conditions&#8230;<\/p>\n<\/div><ul class=\"fusion-checklist fusion-checklist-2\" style=\"font-size:16px;line-height:27.2px;\"><li class=\"fusion-li-item\"><span style=\"height:27.2px;width:27.2px;margin-right:11.2px;\" class=\"icon-wrapper circle-no\"><i class=\"fusion-li-icon fa-caret-right fas\" style=\"color:#3f3f97;\" aria-hidden=\"true\"><\/i><\/span><div class=\"fusion-li-item-content\" style=\"margin-left:38.4px;\">Turnover below \u00a36.5million<\/div><\/li><li class=\"fusion-li-item\"><span style=\"height:27.2px;width:27.2px;margin-right:11.2px;\" class=\"icon-wrapper circle-no\"><i class=\"fusion-li-icon fa-caret-right fas\" style=\"color:#3f3f97;\" aria-hidden=\"true\"><\/i><\/span><div class=\"fusion-li-item-content\" style=\"margin-left:38.4px;\">Balance sheet total below \u00a33.26 million<\/div><\/li><li class=\"fusion-li-item\"><span style=\"height:27.2px;width:27.2px;margin-right:11.2px;\" class=\"icon-wrapper circle-no\"><i class=\"fusion-li-icon fa-caret-right fas\" style=\"color:#3f3f97;\" aria-hidden=\"true\"><\/i><\/span><div class=\"fusion-li-item-content\" style=\"margin-left:38.4px;\">Less than 50 employees<\/div><\/li><\/ul><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-bottom:20px;width:100%;\"><\/div><div class=\"fusion-text fusion-text-4\" style=\"transform:translate3d(0,0,0);\"><p>Most subsidiary companies are also exempt from audit where their parent company guarantees their liabilities.<\/p>\n<p>For accounting periods ending on or before 30 September 2012 an audit is required where your turnover exceeds \u00a36.5million or your gross assets exceed \u00a33.26 million or the company is part of a group that exceeds those limits.<\/p>\n<p>We can advise you if you need an audit and if not, you can save on accountancy fees!<\/p>\n<p>However, we aim to deliver hassle-free audits and there are good reasons for having an audit even if you are not required by law to have one&#8230;<\/p>\n<ul>\n<li>An audit involves a detailed review of the company&#8217;s accounting systems and systems of control and also requires a detailed understanding of the company&#8217;s business. Such a review and knowledge can provide increased opportunities to provide proactive business advice on many matters;<\/li>\n<li>An unqualified audit report can improve the status of the accounts in the eyes of banks and commercial lenders, the Taxman and suppliers who may be seeking credit references, etc;<\/li>\n<li>A history of accounts with clean audit reports can also be a factor if you ever wish to sell the company or, perhaps, take it to the market;<\/li>\n<li>The possibility of fraud can be reduced and an audit can act as a deterrent to any potential fraudster.<\/li>\n<\/ul>\n<p><strong>Next Step:<\/strong><\/p>\n<p>Please contact us if you need further advice, have any questions about our services, would like a free consultation or a fee quote.<\/p>\n<\/div><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-2{width:100% !important;margin-top : 0px;margin-bottom : 20px;}.fusion-builder-column-2 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-2{width:100% !important;order : 0;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-2{width:100% !important;order : 0;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-1{ padding-top : 80px;margin-top : 0px;padding-right : 0px;padding-bottom : 40px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"100-width.php","meta":{"footnotes":""},"class_list":["post-182","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/wp-json\/wp\/v2\/pages\/182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/wp-json\/wp\/v2\/comments?post=182"}],"version-history":[{"count":3,"href":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/wp-json\/wp\/v2\/pages\/182\/revisions"}],"predecessor-version":[{"id":260,"href":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/wp-json\/wp\/v2\/pages\/182\/revisions\/260"}],"wp:attachment":[{"href":"https:\/\/website.clientdemoweb.com\/leiperandsummers\/wp-json\/wp\/v2\/media?parent=182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}