What is an audit &
why might you need one?

What is an audit?

  • An audit is like a financial health check for a business.

  • It’s when an independent expert reviews the company’s financial records to make sure everything is accurate, honest, and follows the rules.

  • Think of it as a way to double-check the numbers and ensure the business is being run responsibly.

  • An audit helps build trust with people like investors, banks, and customers who rely on those numbers to make decisions.

Do you need an audit?

In the UK, there is a legal requirement that you must have an audit if your company meets two out of three of these criteria:

Mandatory if your company meets 2 out of 3 of the following:

  • Annual turnover is more than £10.2 million

  • Total assets are worth more than £5.1 million

  • You have 50 or more employees

Voluntary if required for:

  • Stakeholder Demands You might need an audit if - investors or shareholders want assurance that your financial statements are accurate or if banks or lenders ask for an audit as part of a loan agreement.

  • Industry Rules Certain industries, like charities, financial services, or regulated sectors, require audits- regardless of size.

  • Trust and Transparency If you want to build trust with stakeholders, an audit can provide assurance that your finances are in good shape and your business is run ethically.

  • Internal Decision You might decide to have an audit even if it’s not required, to get an expert review of your financials, identify risks, or improve internal processes.

Meet Your RI
(Responsible Individual)

Susan Rahman
Chartered Accountant & RI

Susan Rahman is the Responsible Individual (RI) overseeing our audit, ensuring it complies with all professional and regulatory standards. She is accountable for the quality of the audit, including reviewing key judgments and signing off on the audit report. Susan is your main contact and communicates findings clearly and addresses significant matters with professionalism.

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  • "I have been a client of Susan's since 2007. She and her team manage the accounts in my medico-legal business. I was introduced to them through word of mouth. I have always found the staff very responsive and helpful. When I had a dispute the with VAT office several years ago, they were very supportive and Susan herself attended the tribunal and was able to successfully represent my case. My accounts are always ready well in advance so financial planning starts early. I can’t recommend them enough."

    Dr Soran Saeed, happy client for over 25 years

  • “For me, they have a breadth of knowledge applicable across all three of my very different businesses and were supportive when I needed them to guide me through the tax process and refinement of my business model…They were able to plan ahead with me for the future of the property business and how to ensure its success”

    Zuberul Huda, Restaurateur & Property Investor, happy client for over 40 years

  • "I was recommended through a friend and was keen to work with another female led business. They do all my corporation and self-assessment accounts and have worked with me to solve many HMRC issues. I receive prompt responses and clear explanations about their actions and mine. Everything is done in plenty of time to meet the tax deadlines so I know where I stand and can plan ahead. My business is a small ltd company and they've helped me to run it in a simple way without unnecessary complications...They are always open to conversation."

    Julie, Integrity Coaching and Training Ltd

  • "They set up all the techy bits for me, which was a huge relief. Having the figures at my fingertips has been valuable, but what is more valuable is the time that Susan takes helping her clients understand the figures. She does this in everyday language that anyone can understand. That, for me, is what sets them apart...I thoroughly recommend Susan Rahman and her team for their human approach to accounting."

    Alison Purvis, Founder, Unwrap Your Potential