Audit

Compliance, insight, improvement

Audit shouldn’t be an annual interruption to the running of the business.  An effective audit service is a continual improvement led by trusted financial experts.  

Your annual audit is an opportunity not a burden.  It's a platform for an independent review of your finances – and therefore your business.

An expert view can highlight your financial strengths and challenges, and identify how and where the business can improve. It can provide reassurance about what you’re doing right and provide best-practice advice from your industry and beyond.

The financial transparency an audit brings about instils confidence and trust among investors, suppliers, partners and staff.

A service to value

Many audit firms only do what's required to comply with the necessary regulation.  But at Goodman Jones we go much further. 

We've invested significant resources in developing high-quality products and technologies that underpin our audit lifecycle which means you get far more than a tick in the compliance box. 

We offer rich insight into your finances and accounting arrangements; and valuable advice on how to improve your business.

Our tax and business performance improvement teams can then help you to implement the changes we recommend.

As members of the GMN International, we help many multi-national groups fulfil UK and overseas audit and reporting requirements.

Collaboration, clarity, speed

We work in close partnership with our audit clients. We involve you in designing your audit, and take time to understand your business. This way, we gear the audit to your industry, and tailor it to your specific needs, issues and risks.

We also keep you in the picture. From the start, we set out what we intend to look at, in how much depth, and in which parts of the business. Our reports speak your language, making clear how we’re progressing, what we’ve found, and what we recommend doing. 

We move fast. Wherever possible we’ll aim to finalise your audit within 6 to 12 weeks of starting work on site. This enables the improvements we recommend to be implemented sooner – and your business to benefit faster.

Completing an audit process quickly is in the best interests of all stakeholders and demonstrates strong corporate governance. It also allows sufficient time to consider the results of the process rather than finalise in haste to meet filing deadlines imposed by a long finalisation period. 

The Goodman Jones Audit Lifecyle

How our audits work

1. Planning

• We start by creating two essential documents that form the basis for your audit:
  • an Audit Strategy Memo (ASM), which lists what we’ll audit – and importantly, what we don’t. 
  • an Audit Planning Matrix (APM)  describes our detailed technical plan for the audit. 
• Our audit team will then present these to you at a planning meeting before fieldwork starts.

2. Fieldwork

• Next we carry out the work set out in the ASM and APM at your premises.  While doing so we amend the plan with any changes that emerge during the audit; and immediately communicate these to you.

3. Finalisation

• Our Audit Findings Report (AFR) sets out the results of our work, any issues we’ve found, and our recommendations for how to improve your business.  improvement. 

Talk to Sarf Malik, Amit Sharma or Matt Cook to find out how we can help your business.