Solicitors’ accounts audits – making things more ‘outcome-focused’

You have to love our governing bodies use of language. The phrase ‘outcomes-focused’ is one that would send most people scurrying to Google to try and find a definition. But for those in the financial sector who act as a reporting accountant for solicitor clients operating client accounts, it’s much more important to understand exactly what this phrase means, and how recent chang… Continue Reading

Audit Exemption

It has been recently announced that small companies as defined in the Companies Act will be exempt from audit for accounting period ending after 1 October 2012. The exemption thresholds will now be quite high but as HMRC are stepping up their investigation activity, will exemption increase the risk of a HMRC enquiry? It is not within the scope of an audit to examine every the documen… Continue Reading