Zareef Associates Ltd. are authorised to conduct audits by the Institute of Chartered Accountants in England & Wales [ICAEW]. We can offer an audit which will be supervised by a Chartered Accountant with over 15 years of audit experience, which will be conducted to the high standard required by the ICAEW - and at a competitive price.
In addition to preparing accounts, for limited companies with a turnover of over £5.6 million and assets of over £2.8 million an audit is a legal requirement. Audits are also necessary, irrespective of turnover or assets for certain other types of business, including solicitors , some charities, estate agents and travel agents. Other companies choose to have an audit, to demonstrate the reliability of financial information to potential investors or in order to raise finance.
The purpose of an audit is to allow the auditor to form a opinion on whether a company`s accounts give a true and fair view of the financial performance and position of the company and whether the accounts comply with law. The auditor prepares a report to the shareholders stating whether in their opinion the accounts do give a true and fair view. The audit process involves a thorough assessment of the accounts based on a critical review and testing of accounting records and internal control systems. This process may take several days to complete.