Audit & Assurance
At Bright Grahame Murray we have a structured approach to Audit and Assurance services which enables us not only to meet statutory requirements in a professional and cost-effective manner, but helps us to offer you constructive advice.
Audit and Assurance assignments often provide the foundation upon which many of the wide range of services we offer our clients are based. We provide Audit and Assurance services to organisations of every size, ranging from smaller private companies to listed companies, limited liability partnerships, pension schemes, charities and other not-for-profit entities. We also have in depth knowledge of the major financial reporting and taxation implications arising from the transition from current UK GAAP to FRS 102.
The Statutory Audit
The Bright Grahame Murray approach to the statutory audit has four main defining characteristics as follows:
Understanding Your Business
We begin the statutory audit by gaining an in-depth understanding of your business and the wider commercial and economic issues affecting it. This means that we can respond quickly to changes in legislation and financial reporting standards which may impact on you and your business.
Where it is appropriate, we like to meet with our clients before the end of the accounting period to programme tasks requiring special attention and to identify any potential audit issues. These measures help to ensure that deadlines are met and that costs are contained.
Wherever possible, we try to reduce the costs associated with your audit by using analytical review techniques comprising a comprehensive examination of key accounting and operational ratios. These techniques, coupled with our knowledge of your business and business sector, often provide much of the required audit evidence, saving time and enabling us to lower costs on key audit areas. A high degree of partner and manager continuity minimises our costs with commensurate savings in your time and effort.
When the audit is completed, we will talk to you about the assignment and, where appropriate, present our findings in a formal report. Our aim is to make the audit process work for you as an independent review of your business, so that it highlights realistic opportunities for improving your internal financial management and administrative procedures together with, ultimately, the profitability of your business. The Client Service Partner is also able to use the audit as a basis for making recommendations for developments to future business strategy.