Audit

As a charity or social enterprise, you may well face complex regulation and accounting requirements. You need to comply with the charity SORP, Companies Act and trading rules as well as gift aid, VAT and payroll taxes. You may have specific reporting requirements for grants.

At Sayer Vincent, we understand that it all needs to come together and your audit team will help you with the whole picture. You will get regular updates and advice included in the service, as well as extra support when you need it.

We are thinking auditors and use our brains to decide the best audit approach. We have our own audit programme and documentation and the audit is not run by checklists or computers. Auditing is a people-orientated activity and we still work on that basis. We think it is important to listen to our clients, consider the implications of what we hear and then discuss with them any issues arising.

Our audit starts by seeking to understand what you do and getting to know the risks and challenges you face through a meeting and our own research. From this we develop a risk-based audit programme to focus on the things that matter. We meet with you to plan the work needed, agree the timetable and provide your staff with help to prepare for the audit. We’ll meet with you after our audit visit to discuss the findings and our draft post-audit report. This report is prepared for the trustees and provides them with an overview of the end of year accounts, recommendations for improvements to governance or systems and flags emerging issues that might need attention in the coming year. Support for your staff included in the audit:

  • Planning meeting – flag up issues early
  • Audit preparation checklist to help staff get ready for the year end
  • Your accounts in an easy-to-use Excel template with prior year figures
  • Review of the presentation and layout of accounts at the planning stage with suggestions for changes
  • Free one-day training course for staff in the preparation of charity accounts
  • Access to advice and support during the preparatory period
  • Free monthly newsletters to keep you abreast of news and developments
  • Free seminars and updates

We work closely with the finance team to make sure that there are no dramas, planning in advance to get the audit smoothly out of the way so that you can get on with the rest of business as usual.

Do you need an audit?

A statutory audit is only required if you exceed income or asset thresholds and these are different for charities and social enterprises. Read this guidance if you are unsure if your organisation needs an audit.

If you decide that you do not need an audit, then maybe we can help with some one-off advice or you might want to sign up to our subscription service to access updates, seminars and advice. This service is described fully in this download.