We offer a cost effective external audit service and can provide business consultancy, internal audit, accountancy and tax planning services when you require them.

You can also find Hornbeam on the Register of Statutory Auditors.

Audit Services Available

Background

Many owner-managers consider the statutory audit to be a waste of money, an overhead burden with no tangible benefits. Whilst it is true that audit was developed at a time when it was assumed that most companies would be owned and managed by different people, there are never-the-less a number of important advantages which flow from the audit. It is Hornbeam’s policy to aim to maximize these advantages whilst minimizing the costs.

This is a summary of the advantages which are intrinsic to the audit:

This is a summary of the advantages which can flow from a commercially orientated audit:

Phil Needham is a Senior Statutory Auditor, registered to conduct Audits in the United Kingdom. We would love to discuss how we can make your audit needs work for you. Please contact us on 01603 720424 or phil@hornbeam-accountancy.co.uk

 
What is an Audit?

Hopefully, we have persuaded you that an audit can be more than just an overhead expense. Now perhaps you maybe a little more interested to know just what an audit is.

The Companies Act as amended requires that all companies exceeding two out of three of the following criteria must appoint a registered auditor and submit annual audited accounts to the registrar of companies within 9 months of the company year-end:

The International Standards on Auditing require an auditor to:

The Auditor is appointed by the shareholders and reports to the shareholders, although his report may also be of interest to management and to outsiders. It is the director’s responsibility to prepare and approve accounts. The directors may employ the audit firm to carry out some of their duties. This is not strictly part of the Audit and the Directors cannot delegate their statutory responsibilities in this area. The Audit firm will issue a separate contract for this work.

What is a Registered Auditor?

European Community law requires that “only persons who are properly supervised and appropriately qualified are appointed company auditors”. The government delegated the supervisory process to the Professional Oversight Board of the Financial Reporting Council, who in turn supervise Recognised Supervisory Bodies including the ICAEW who supervise Chartered Accountancy audit firms such as Hornbeam Accountancy Services Ltd. The Professional Oversight Board maintains a register of those firms which are licensed to perform audits at www.auditregister.org.uk. This license can be refused or revoked. Firms on the register must make an annual declaration of compliance with the Audit Regulations. Firms are also visited periodically by the Joint Monitoring Unit to ensure that they are complying with legislation, with Audit Regulations and with International Auditing Standards. Recent changes in legislation have had a dramatic impact on the number of Auditors in the UK, making Hornbeam one of an elite few.

In short, the Auditor operates within a very tight legislative and supervisory framework and has to comply with a large number of mandatory requirements in order to maintain their licence. So if sometimes we have to do things you do not like or do not understand then please ask and we will be happy to explain why we are doing this.

Solicitors – A question – what costs a lot and gives you nothing in return? 

I was thinking of the SRA Audit ………………..

Why not ask us if we can reduce your SRA audit costs?

Of course, you do not have to take up this offer, we would be happy to quote for any engagement.  I would though not want you to think that low price is the only benefit we offer, or even the main benefit we offer.  Why not let us review your set-up to see if you could be saving tax? We do this free of charge if you invite us to tender for your tax.

To chat about your firms saving just email phil@hornbeam-accountancy.co.uk  or
telephone 01603 720424 and ask us to quote for your audit and accountancy services.

And remember!

Pete Dixon

On hearing that HMRC agreed to drop all of their penalties, Pete Dixon emailed us:

“Hey Phil - thank God for that! Thank you for such a superb job/result and the peace of mind. Enjoy the rest of the week. Cheers Pete“

Judith Tait

After receiving help and support with QuickBooks:

“Thanks so much for your help today. It really will revolutionise my accounting”

Michael Engelhard

After receiving a Hornbeam business valuation:

“Thanks for the valuation Phil, our barrister said it was the best she had ever seen”

David Adlard

“No one could have fought my corner against the tax man with more determination, intelligence or technical expertise”

Dr John Wade

“Phil, this has been an amazing journey, one that has seen us go from strength to strength. We have achieved something I never dreamed of, financial security, and just as important peace of mind. Thank you for being you, and for the strength and encouragement when things were uncertain. Thank you for being our friend”

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