Annual Audit

Annual audit services for small and growing companies.

If your business meets audit criteria, an annual audit ensures your financial reporting is accurate and reliable. At Huddart, we guide you through every step of your annual audit, from planning to the final auditor’s report so you can focus on growing your business with confidence.

Do you need an annual audit?

Most limited companies must undergo an annual audit if they meet any of the following conditions for their last financial year:

Turnover exceeded £10.2 million.
Total assets exceeded £5.1 million.
They employed more than 50 people.

These thresholds apply to many small companies, trading companies and even public companies preparing for external scrutiny. An audit offers a true and fair view of your financial statements, giving peace of mind to management and stakeholders.

Why annual audits matter

An annual audit does more than satisfy annual reporting requirements. By examining your balance sheet, profit and loss figures and other financial information, an external auditor checks for material misstatement and confirms whether your accounts present a true picture.

This process gives stakeholders, such as potential investors, lenders and the stock exchange, the confidence to engage with your business. It also helps you:

Improve internal processes through independent review.
Reduce risk of errors, omissions, or compliance issues.
Prepare a clear annual audit plan and follow-through.
Receive a formal annual audit letter detailing audit findings.

Our annual audit process

At Huddart, we align our audit process with your business needs and structure:

Planning and risk assessment

We’ll work with your management team to review the previous year’s accounts and assess any high-risk areas. We’ll also prepare a tailored audit plan to guide the process.

In-depth fieldwork

Our external auditors will review your financial statements, test your internal controls, and examine key financial systems. We’ll look at your balance sheet, trading operations and financial year-end processes to identify areas needing attention.

Audit reporting

Once fieldwork is complete, we’ll issue formal auditor reports and an annual audit letter. This letter highlights adjustments made, any control weaknesses found and confirms whether your accounts provide a true and fair view.

Post-audit review

We’ll discuss our findings with your management team, offering practical suggestions for improving systems. A solid internal audit program might follow, to address workflow or control enhancements.

Who benefits from annual auditing?

Annual audits suit a wide range of businesses:

Limited companies that must file audit accounts.
Small companies transitioning to larger scale operations.
Trading companies seeking robustness in reporting.
Public companies or those planning a stock exchange listing.
Companies seeking external investment or finance.
Businesses wanting assurance over financial accuracy.

If your accounts need to support tax, lender or investor purposes, a thorough annual audit adds crucial credibility.

Integrate audit with other services

At Huddart, our audit service fits seamlessly with our other accounting offerings. We often work alongside our accounts preparation, management accounts and tax services to give you a connected financial view.

You can find out more on our accounts services page or explore how we support your long-term business planning through our business advisory team.

Why choose Huddart for your audit?

We combine deep technical knowledge with a hands-on approach:

Chartered accountants with expertise in financial reporting and regulatory standards.
Tailored audit plans designed for your industry and size.
Experienced external auditors committed to accuracy and clarity.
Transparent dialogue. No jargon, just clear insights.
Proactive insights to help you improve accounting systems and reduce risk.
A focus on making your annual report audit a smooth, informative process.

Ready to begin your annual audit?

If your company needs an audit or you’re planning for one, let’s talk. We’ll help you develop an audit plan, complete your annual auditing efficiently and deliver reports that carry confidence for you and your stakeholders.

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