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phoenix debola


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11-Month Audit
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Apology if I'm posting this in the wrong forum. A client has asked if I can help with an 11 month audit. I haven't responded to the email she sent. Just thought I should ask you good people first... why 11 months? Is that standard? Does anyone know roughly how much that would cost in London and what a hiring procedure will be? The company is a ltd company supplying playgroup etc services to pry schools. I'm guessing the audit is requird by funding agencies. I'm not qualified to carry out audits - well, not until I decide to give up bookkeeping and finish my ACCA.



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MarkS


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May be that they have shortened their accounting period to an 11 month period.  Standard period of companies period of account is 12 months.

Dont know what it will cost in London but the price will depend on many factors

1. Is this the first audit conducted?

2. What their nature of business is?

3. What the turnover level is?

4. What the level of assets and liabilities at the year end?

5. What is the volume of transactions in the period?

6. What is the level of transactions in the year?

7. What the internal controls are like?

8. What software is used to maintain the accounts?

9. Are full statutory accounts given to be audited or will the auditor have to prepare the accounts?

10. Are the transactions easy to audit?

 

Regards

Mark

 



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
phoenix debola


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Thank you very much for this, Mark. It actually the company needed an internal 'audit' to help determine pension provisions!

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MarkS


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That being the case it just an aspect audit needed for internal purposes so just a case of approaching a few suitable first and getting quotes.

Regards

Mark



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
phoenix debola


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"It actually the company needed an internal 'audit' to help determine pension provisions! "

sorry... should read "It was actually the company; it needed an internal 'audit' to help determine pension provisions!" More haste, bad grammar ; -)


Thanks, Mark (again).


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