Statutory audit – how to choose the right accountant?
The preparation and audit of your annual accounts is a legal necessity for many businesses, but who should you chose in order to make sure that you’re managing it cost effectively and efficiently?
1. Don’t pay more than you need to
All UK audit firms, big and small are governed by the same auditing guidelines and international auditing and accounting standards and monitored by the same regulatory bodies.
The difference is that because Peter Hodgson & Co has lower overheads, we can usually carry out statutory audits for a fraction of the cost that bigger firms charge. It does sometimes make sense to use the bigger firms for unusual and specialist expertise but other than that if you go with them you could be paying far more than you need to.
2. Employ experienced experts
At Peter Hodgson & Co you get big firm expertise, with small firm size fees. Aidan is the firm’s Audit Partner, and hugely experienced, and works with a team that is well used to auditing public companies and private groups, including owner managed and family businesses.
3. Ideally work with the same team each time
The bigger firms will often use your company as a training ground for their audit staff. You will probably see different staff every year and may have to answer the same questions over and over each year. With a smaller firm such as Peter Hodgson & Co, you will usually have the same staff doing the audit each year. This makes for a far more efficient process because they will know your business already and can concentrate on the more difficult or contentious areas.
There are clear advantages for using us. To discuss your requirements, please call Aidan Smyth on
01892 515 733 or email him at firstname.lastname@example.org