Comprehensive and strategic audit and assurance services
Enhance financial transparency, mitigate risks, and receive an independent evaluation of your business’ financial statements and internal controls with the help of our experienced and knowledgeable team. Attract potential investors, lenders, and external partners with clarity and credence.
Get your financials audited robustly; enjoy transparency
What if we told you there was a way for your business to gain valuable insights, mitigate risks, and build stakeholder trust? In today’s complex and fast-paced world, audit and assurance services help ensure your financial information’s credibility, transparency, and trustworthiness. Affinity Associates is proud to offer such support in the UK.
Our services are designed to be reliable and straightforward. You can trust them, and so can your investors and stakeholders. A good audit is all about being independent and questioning things when needed. This ensures that your company’s reporting is on point and everyone involved gets the clear picture they need, which is crucial for long-term success.
Our audit team has the industry know-how and is clued up on market trends and local insights. This means they deliver top-notch audits you and your stakeholders can depend on.
We’ll assess the appropriateness of accounting policies, evaluate the reasonableness of estimates, and verify the existence and valuation of assets and liabilities. By doing so, you can be assured that the information presented is free from material misstatements and fairly represents the financial position and performance of the entity.
Affinity Associates is regulated by ACCA and ICAEW, which shows we know our job and keeps our standards high. For any clarifications, our UK team is just a call away.
We provide an exhaustive suite of external audit and assurance services designed to meet a specific need.
Mandated by law for certain UK companies, such audits are a critical check of a company’s financial statements to verify their accuracy. They are not just a formal requirement but a cornerstone for financial transparency. They assure stakeholders that the company’s reported financial position is reliable and prepared according to UK GAAP or IFRS. Our auditors will assess your financial records, examining the company’s revenue, expenses, assets, and liabilities.
While HMRC is responsible for conducting formal tax audits, your business may engage in tax reviews or compliance services to pre-empt or support such HMRC activities. These reviews help ensure that you’re accurately meeting your tax obligations and effectively managing tax risks. In this case, we examine your tax returns, supporting documents, and financial transactions to check for discrepancies or misinterpretations of the tax laws and regulations.
These audits are tailored to a company’s sector-specific requirements. Our auditors evaluate whether you follow the regulations and standards that apply to your industry. This could encompass a range of areas, from environmental standards and health and safety regulations to financial reporting and data protection laws. The objective is to mitigate the risk of legal penalties, financial losses, or reputational damage arising from non-compliance.
Such audits systematically review a company’s financial statements and underlying financial transactions. Our auditors will test the accounting records and perform a range of procedures to verify that the financial reports are free from material misstatement, whether caused by error or fraud. We’ll evaluate the appropriateness of accounting policies used, the reasonableness of accounting estimates made by management, and the overall presentation of the financial statements.
Assessing the financial impact of legal disputes is crucial to secure comprehensive settlements that address every detail of your case. Misjudgments can result in significant long-term consequences. Our forensic accountants specialize in this complex field, expertly analyzing, interpreting, and condensing information to deliver accurate and efficient results.
Having been in business since 1964, we’ve served clients from a diverse spectrum of industries
- Technology
- Retail & eCommerce
- Health
- Manufacturing
- Professional services
- Energy & utilities
- Hospitality
- Telecommunications
- Pharmaceuticals
- Automotive
Move forward with financial transparency; build stronger stakeholder relationships.
We possess the necessary professional competence, skills, knowledge, and expertise to deliver audit and assurance services effectively. Book your complimentary consultation with us today!
- Email us at
- info@affinityassociates.com
Technological mastery defines us
Frequently Asked Questions (FAQs)
1. How do I know my business needs an audit in the UK?
Your business requires an audit if it meets any of the following conditions within the financial year: it’s a public company (unless dormant), a subsidiary company (with exemptions applicable), or an authorised insurance company involved in insurance market activity or banking. If your private limited company has an annual turnover of no more than £10.2 million, assets worth no more than £5.1 million, and 50 or fewer employees, it may be exempt from auditing.
2. What is an external audit? What are the different types of tasks you typically handle here?
An external audit is an independent check of an organisation’s financial records by an outside auditor to ensure the statements are accurate and conform to accounting standards. The process includes various tasks, such as assessing financial operations, evaluating compliance with regulations, reviewing controls, and offering insights on non-financial performance, all aimed at enhancing the quality of information for stakeholders
3. What is the difference between audit and assurance?
Audit and assurance differ in scope. An audit specifically examines financial records to provide reasonable assurance that they are accurate and true. It’s a subset of assurance, broadly aiming to improve information quality and transparency to minimise the risk of errors. Assurance services extend beyond audits to include reviews of adherence to regulations and policies, benefiting internal and external decision-making.
4. Is advisory better than audit?
Comparing advisory and audit services is akin to comparing apples and oranges – both are important but serve different purposes. An audit is a systematic review of a company’s financial statements to ensure accuracy and compliance with accounting standards and regulations. It assures stakeholders that the financial information presented by the company is fair and reliable. On the other hand, advisory services are more comprehensive and forward-looking, guiding a wide range of financial issues, such as mergers and acquisitions and business performance optimisation.
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