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| Q. | What does an audit involve? |
| A. | An audit has to be carried out in compliance with International Standards on Auditing (UK & Ireland) and the requirements in the Companies Act 2006, which are very stringent. The audit is designed to provide a reasonable level of assurance to users of the accounts that those accounts are not materially misstated or misleading. The audit involves a significant amount of work including:
· Documenting our understanding of your business, and its accounting and internal control systems;
· Assessing the risk of the accounts being misstated and of material fraud, and focussing our work accordingly;
· Carrying out sufficient audit tests and procedures to enable us to form our opinion; and
· Communicating our findings to you.
An audit is not designed to detect fraud or errors, merely those that could have a material effect on the accounts. |
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Chartered Certified
Accountants in London
London - Head office
The Grange
100 High Street
London
N14 6TB
DX:34310 Southgate
t: +44 (0)870 850 6007
f: +44 (0)870 850 6008
London - City
111 Charterhouse Street
London
EC1M 6AW
t: +44 (0)870 240 3007
f: +44 (0)870 240 3008
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