Does anyone have/use a letter when providing year end accounts which states that 'I/We have competed the foregoing P&L from the records/information and explanations provided to me'.........also a section where the client signs their approval.....e.g., 'I certify that to the best of my knowledge and belief, the P&L etc........is true and correct.
It's all very well doing a good job for clients, but I need to get my own records in order and this is part of the record-keeping inprovements!
Incidentally, I am talking about a P&L only and it is fairly simple stuff. Perhaps two sections in line with what is written above will do? However, if anyone has an example or an example for a full set of management accounts (P&L, B/S and reconciliations) then I would be grateful for a copy!!
On top of general best practice record-keeping, I have recently completed a P&L from (very) incomplete records. These are to passed on to the clients tax adviser and I wanted to stress the fact that there are missing documents etc. (items going through the bank account with no invoice/receipt) and have the accounts signed off on this basis. Thank god I am not involved with the VAT/Balance sheet!!
