The area of audit is a highly regulated and complicated process that is becoming more complex and costly, but we have adapted our thinking for our clients’ advantage.
When the audit threshold for companies rose to £10million in 2015, many smaller audit companies saw their client base drop dramatically, but at Randall & Payne, we adapted our thinking and have seen a double digit growth within our department.
We have expanded our dedicated team who work on over 100 audit clients all year. They are familiar with the regulation and are effective in all they do. Using the latest audit software, we have a unique approach to every client we act for, but all with the same end game – client satisfaction.
Three years ago, our audit team embraced the use of computerised audit methodologies. This has not only encouraged efficiencies for clients, but has allowed our team to me more effective. Our approach was recognised last October when we were shortlisted finalists at the British Accountancy Awards for Audit Team of the Year.
In the next five years, company audits will become more automated with the use of data analytical software and our early adoption internally of using a computerised process will enable us to offer clients experienced advice when they are required to do so.
Working with a wide variety of audit clients, our team have a collaborative, best practice approach, which is shared with clients if problems are encountered. We are able to balance servicing clients effectively with sharing our experiences and knowledge throughout.
Any strong ideas in relation to controls and systems are shared and any foreseeable regulation changes are discussed in advance of our visits to ensure clients are able to plan and the audit process remains efficient for all of those involved.
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