Whatever your audit or accounting requirements, the team at Keens are well equipped with knowledge and experience to help make life easier for you. The process of producing either management accounts or end of year financial statements can be time consuming, but is nevertheless essential for the understanding of the financial performance of any business. Disclosing information which is relevant, and also complies with the law is an essential part of the process. For businesses that require an audit, the process is sometimes seen as unnecessary by business owners, but if it is structured correctly, it can add value to the governance of any business, as well as providing comfort to customers and suppliers alike.
Aiming to make the process as simple as possible for you, Keens will use its experience to not only provide the necessary services required, but also to highlight and identify areas where improvements can be made in order for your company to be more successful.
Every business should produce accounts on a regular basis, to monitor their financial performance. Without them, it would be impossible to measure just how well a business is performing
Without accurate accounting information, businesses can rapidly fall into difficulties, or fail to meet their financial goals, which can add significantly to the likelihood of unforeseen financial problems.
Keens has invested heavily in specific software, which simplifies the process of preparation and submission of these statements to the relevant parties electronically. It can also help with regular management accounts, normally produced for internal use within the organisation, in order to provide business owners and managers with information which will assist with the effective management and running of the company, by helping clients set up their accounting software to produce management information on a monthly basis. The team are then able to assist further by reviewing this information with the client and interpreting the results, to allow for informed decision-making and peace of mind.
As Registered Auditors, Keens is regulated by the Institute of Chartered Accountants in England and Wales. Whether your business is large or small, properly conducted audits by a company, such as Keens, can be a vital part of the compliance process. Whilst there are exemptions from the audit process for many businesses, audit procedures not only ensure that accounts are prepared accurately, in accordance with appropriate legislation, but that areas of potential weakness are highlighted. As advisors to any business, Keens can use the audit process to advise any shareholders as to the most appropriate way in which to achieve their objectives and grow the company. Audits are performed and managed by qualified staff, using computer audit software, ensuring that the cost of the audit is competitively priced.
Charities and other similar organisations have a particular set of requirements when it comes to reporting. As one of the most established firms in Milton Keynes, Keens has many charity clients that require assistance with not only the preparation of their financial statements, but also their independent examination and, where required, their audit. Certain members of the Keens team are involved with, and are Trustees of, various local charities, and bring practical experience when dealing with reporting issues. They aim to ensure that the level of reporting is appropriate to the charity’s individual requirements, and at a reasonable cost.
Apart from those organisations who are required to have mandatory audits due to company regulation, some business entities are required by their professional bodies and their constitutions, to have an independent review or non – statutory audit. These can include solicitors practices, estate agents, property owners, service charge administrators and franchisors. Keens has experience in dealing with these and many other areas. Organisations that fall below the statutory limits of size, at which point an audit is required, may still require an independent review, or non-statutory audit. And, since the reporting is for the benefit of the shareholders, having been shaped by their wishes, some of the statutory and documentation issues, which surround the formal audit process can be ignored, thus reducing the cost, and allowing effort to be directed specifically into other areas, where there may be a degree of concern. The resulting report is produced as an independent accountant’s review, and whilst it is not a direct replacement for the formal audit certificate, it does give a high degree of comfort to users of the accounts. This work is ordinarily undertaken for shareholders, banks and venture capitalists.
For more detailed information on Audit and Accounting, visit keens.co.uk or simply get in touch with the team at 01908 674484.