Auditing Services in the United Kingdom
UK companies exceeding statutory audit thresholds — or those required by lenders, investors, or regulators — must undergo audits conducted under International Standards on Auditing (UK) by a registered auditor.
UK companies exceeding statutory audit thresholds — or those required by lenders, investors, or regulators — must undergo audits conducted under International Standards on Auditing (UK) by a registered auditor. Fintax Support Limited prepares audit-ready financial statements under FRS 102, compiles working papers, and coordinates with your statutory auditor to streamline the engagement. We also support charities requiring independent examination or full audit under Charity Commission regulations and assist with HMRC-led tax investigations requiring financial reconstruction.
Regulatory Framework
UK private companies must appoint an auditor if they exceed two of three thresholds: £10.2 million turnover, £5.1 million balance sheet total, or 50 employees. Audit reports must comply with ISA (UK) and be filed with annual accounts at Companies House. The FRC regulates audit quality and can sanction firms for non-compliance.
Our Auditing Services in United Kingdom
Statutory Audits (ISAs UK-Compliant)
Prepare for statutory financial statement audits conducted under International Standards on Auditing (UK) issued by the Financial Reporting Council. We assemble FRS 102 financial statements, audit-ready working papers, and PBC schedules so your registered statutory auditor can issue an unmodified opinion efficiently — whether required by Companies Act 2006 Part 16 thresholds, lenders, or shareholders.
ISA (UK) working papers
Trial balances, lead schedules, and flux analyses indexed to FRC auditing standards for efficient fieldwork.
FRS 102 financial statements
Balance sheet, profit and loss account, cash flows, and notes prepared before statutory auditor engagement.
Substantive testing support
PBC schedules prepared for cash, revenue, debtors, and creditors testing per the auditor's programme.
Companies House alignment
Audited accounts structured for filing at Companies House within nine months of year-end.
How It Works
Pre-audit readiness assessment
Review prior-year audit findings, trial balance, and FRS 102 compliance gaps before fieldwork begins.
Working paper preparation
Compile PBC schedules, reconciliations, and disclosure drafts aligned to the auditor's engagement letter.
Fieldwork support
Respond to auditor inquiries, provide substantiation, and resolve testing exceptions during on-site or remote fieldwork.
Report issuance coordination
Finalise directors' report, going concern statement, and board approval for audit report and Companies House filing.
Pre-audit readiness assessment
Review prior-year audit findings, trial balance, and FRS 102 compliance gaps before fieldwork begins.
Working paper preparation
Compile PBC schedules, reconciliations, and disclosure drafts aligned to the auditor's engagement letter.
Fieldwork support
Respond to auditor inquiries, provide substantiation, and resolve testing exceptions during on-site or remote fieldwork.
Report issuance coordination
Finalise directors' report, going concern statement, and board approval for audit report and Companies House filing.
Statutory audits under ISA (UK) — issued by the Financial Reporting Council and overseen by the FRC's Audit, Reporting and Governance Authority — provide reasonable assurance that FRS 102 financial statements are free of material misstatement. Companies exceeding two of three thresholds — turnover £10.2 million, gross assets £5.1 million, or 50 employees — must appoint a registered auditor under Companies Act 2006 Part 16. We prepare audit-ready working papers including adjusted trial balances, account reconciliations, related-party disclosures, and going-concern analyses before your statutory auditor begins fieldwork. Proper preparation reduces billable audit hours, accelerates report issuance for lender covenant deadlines, and minimises repeat findings in subsequent years. Our team coordinates the entire PBC process from engagement letter review through to signing of the audit report filed at Companies House.
Common Questions
Internal Audit & Management Review
Evaluate internal controls, operational processes, and financial reporting workflows through structured internal audit and management review programmes. Internal audit identifies control weaknesses before your statutory auditor or the FRC-regulated audit firm does — reducing fraud risk, qualified opinions, and operational inefficiencies across your UK organisation.
Control environment assessment
Three Lines Model evaluation of entity-level controls, risk assessment, and monitoring activities.
Process walkthrough testing
Transaction-level walkthroughs for revenue, procurement, payroll, and treasury cycles documented with evidence.
Deficiency identification
Control deficiencies classified and prioritised with remediation timelines before external audit fieldwork.
Management action plans
Remediation roadmaps with ownership assignments and board reporting for each identified control gap.
How It Works
Risk assessment and scoping
Identify high-risk processes, entity-level controls, and FRS 102-relevant areas based on your industry and size.
Control documentation and testing
Document key controls, perform walkthroughs, and test operating effectiveness over the review period.
Findings report delivery
Present internal audit findings to management and the board with severity classifications and root causes.
Remediation tracking
Monitor management's corrective actions through follow-up testing before statutory audit fieldwork.
Risk assessment and scoping
Identify high-risk processes, entity-level controls, and FRS 102-relevant areas based on your industry and size.
Control documentation and testing
Document key controls, perform walkthroughs, and test operating effectiveness over the review period.
Findings report delivery
Present internal audit findings to management and the board with severity classifications and root causes.
Remediation tracking
Monitor management's corrective actions through follow-up testing before statutory audit fieldwork.
Internal audit and management review services evaluate whether your organisation's controls over financial reporting and operations are designed and operating effectively. We apply the Three Lines Model and COSO principles widely referenced by UK audit firms when assessing control environments under ISA (UK) 315. Our engagements include entity-level control assessment, process walkthroughs for revenue recognition under FRS 102 Section 23, procurement and disbursement cycles, payroll controls, and IT general controls. Findings are classified by severity with clear remediation plans — the same discipline statutory auditors apply when evaluating control deficiencies during ISA (UK) fieldwork. Remediation before your statutory audit reduces the risk of qualified opinions, scope limitations, and repeat findings that increase audit costs year over year.
Common Questions
Audit Exemption Threshold Review
Determine whether your UK company qualifies for statutory audit exemption under section 477 of the Companies Act 2006 or must appoint a registered auditor. We assess turnover, gross assets, and employee counts against current thresholds and document the exemption resolution for filing at Companies House.
Two-of-three threshold test
Turnover £10.2M, gross assets £5.1M, and 50 employees assessed against your latest accounts.
Section 477 exemption documentation
Directors' resolution and exemption statement prepared for Companies House filing requirements.
Group and subsidiary review
Parent-subsidiary relationships assessed — group members may lose exemption if any entity requires audit.
Lender and shareholder checks
Loan covenants and shareholder agreements reviewed — many require audited accounts despite exemption eligibility.
How It Works
Threshold data collection
Gather turnover, gross asset, and average employee data from management accounts and payroll records.
Exemption eligibility assessment
Apply the two-of-three test under Companies Act 2006 Part 16 and review group, banking, and regulatory constraints.
Directors' resolution preparation
Draft section 477 exemption statement and shareholder notification where required by the company's articles.
Companies House filing support
File unaudited accounts with exemption statement and monitor threshold breaches for future periods.
Threshold data collection
Gather turnover, gross asset, and average employee data from management accounts and payroll records.
Exemption eligibility assessment
Apply the two-of-three test under Companies Act 2006 Part 16 and review group, banking, and regulatory constraints.
Directors' resolution preparation
Draft section 477 exemption statement and shareholder notification where required by the company's articles.
Companies House filing support
File unaudited accounts with exemption statement and monitor threshold breaches for future periods.
Small companies may claim audit exemption under section 477 of the Companies Act 2006 if they qualify as small and do not exceed two of three thresholds: turnover £10.2 million, gross assets £5.1 million, or 50 employees on average. Companies must still prepare and file FRS 102 or FRS 105 accounts at Companies House — exemption removes the requirement for a registered auditor's opinion, not the obligation to produce true and fair accounts. Parent companies in a group, banking entities, insurance undertakings, and public companies cannot claim exemption. We assess eligibility annually, document the directors' exemption statement, and flag when approaching thresholds so you can plan for statutory audit costs. Lender covenants and investor agreements frequently override statutory exemption rights.
Common Questions
Charity & Non-Profit Audits
Prepare for independent examination or full statutory audit of registered charities under Charity Commission requirements and the Charities SORP. We assemble trustee reports, fund accounting schedules, and restricted fund disclosures so your independent examiner or registered auditor can complete the engagement within filing deadlines.
Charity Commission compliance
Accounts prepared per Charities SORP (FRS 102) with trustee annual report and fund accounting disclosures.
Independent examination support
Working papers for independent examiners where income is below £1 million and assets below £3.26 million.
Full audit preparation
PBC packs for registered auditors when income exceeds £1 million or assets exceed £3.26 million with income over £250,000.
Restricted and designated funds
Fund balances reconciled with donor restrictions, grant conditions, and endowment accounting requirements.
How It Works
Reporting requirement assessment
Determine whether independent examination or full audit applies based on income, assets, and Charity Commission rules.
SORP accounts preparation
Prepare Charities SORP-compliant accounts with fund analysis, trustee report, and required disclosures.
Examiner or auditor workpaper assembly
Compile bank reconciliations, grant income schedules, payroll records, and restricted fund movements.
Charity Commission filing support
Submit annual return and accounts to the Charity Commission within ten months of financial year-end.
Reporting requirement assessment
Determine whether independent examination or full audit applies based on income, assets, and Charity Commission rules.
SORP accounts preparation
Prepare Charities SORP-compliant accounts with fund analysis, trustee report, and required disclosures.
Examiner or auditor workpaper assembly
Compile bank reconciliations, grant income schedules, payroll records, and restricted fund movements.
Charity Commission filing support
Submit annual return and accounts to the Charity Commission within ten months of financial year-end.
Registered charities in England and Wales must prepare accounts under the Charities SORP, which applies FRS 102 with charity-specific disclosures. Charities with gross income exceeding £1 million require a full audit by a registered auditor. Charities with income over £250,000 and gross assets exceeding £3.26 million also require a full audit. Charities below these thresholds but above £25,000 income require an independent examination by a qualified independent examiner. We prepare SORP-compliant accounts, trustee annual reports, and fund accounting schedules distinguishing unrestricted, restricted, and endowment funds. Proper preparation ensures timely Charity Commission annual return submission — due ten months after year-end — and satisfies donor, grant-maker, and trustee governance requirements.
Common Questions
Group Audit & Consolidation
Prepare consolidation schedules, intercompany eliminations, and group disclosure notes for UK group audits conducted under ISA (UK) 600. We compile subsidiary financial information, uniform accounting policies, and consolidation workings so your group auditor can test the consolidated FRS 102 accounts efficiently.
ISA (UK) 600 group audit support
Consolidation workpapers structured for group auditor testing of components and elimination entries.
Intercompany eliminations
Intercompany sales, balances, dividends, and unrealised profit eliminations reconciled across entities.
FRS 102 Section 9 consolidation
Uniform accounting policies applied and subsidiary results consolidated per FRS 102 group requirements.
Component auditor coordination
PBC schedules prepared for subsidiary audits feeding into the group auditor's consolidation testing.
How It Works
Group structure mapping
Document parent-subsidiary relationships, ownership percentages, and reporting currencies for each entity.
Subsidiary information compilation
Collect trial balances, adjustments, and statutory accounts from each group entity for consolidation.
Consolidation workings preparation
Prepare elimination entries, goodwill calculations, non-controlling interests, and uniform policy adjustments.
Group auditor fieldwork support
Respond to group auditor inquiries on consolidation judgements, related parties, and component audits.
Group structure mapping
Document parent-subsidiary relationships, ownership percentages, and reporting currencies for each entity.
Subsidiary information compilation
Collect trial balances, adjustments, and statutory accounts from each group entity for consolidation.
Consolidation workings preparation
Prepare elimination entries, goodwill calculations, non-controlling interests, and uniform policy adjustments.
Group auditor fieldwork support
Respond to group auditor inquiries on consolidation judgements, related parties, and component audits.
Group audits under ISA (UK) 600 require the group engagement partner to direct and supervise component auditors and evaluate consolidated financial statements. UK parent companies must prepare consolidated accounts under FRS 102 Section 9 when they have subsidiaries, unless exempt as a small group under section 399 of the Companies Act 2006. We prepare consolidation schedules eliminating intercompany transactions, unrealised profits, and intra-group balances; apply uniform accounting policies across entities; and document non-controlling interests and goodwill impairment assessments. Component entity PBC packs are indexed for subsidiary auditors whose work the group auditor relies upon. Proper consolidation preparation supports group CT600 filings, transfer pricing documentation, and Companies House group accounts submission.
Common Questions
Grant & Funding Compliance Audits
Prepare for grant compliance audits and funder-mandated assurance reviews required by UK public sector bodies, lottery distributors, and institutional funders. We assemble expenditure evidence, outcome reporting schedules, and restricted fund reconciliations so funders receive the assurance they require under grant agreement terms.
Grant expenditure reconciliation
Eligible costs mapped to grant budgets with supporting invoices, timesheets, and apportionment calculations.
Funder assurance preparation
Accounts and schedules prepared for funder audits, independent examinations, or agreed-upon procedures.
Restricted fund compliance
Grant income and expenditure tracked separately with conditions monitored throughout the funding period.
Match funding verification
Matched contribution evidence compiled for lottery, Arts Council, and UKRI grant compliance requirements.
How It Works
Grant agreement review
Analyse funder terms, eligible cost definitions, reporting deadlines, and assurance requirements per grant.
Expenditure tracking setup
Configure nominal codes and restricted funds to segregate grant income and eligible expenditure by programme.
Compliance evidence assembly
Compile invoices, payroll allocations, outcome reports, and match funding evidence for auditor or funder review.
Assurance engagement support
Support funder-appointed auditors or independent examiners and resolve queries before grant sign-off.
Grant agreement review
Analyse funder terms, eligible cost definitions, reporting deadlines, and assurance requirements per grant.
Expenditure tracking setup
Configure nominal codes and restricted funds to segregate grant income and eligible expenditure by programme.
Compliance evidence assembly
Compile invoices, payroll allocations, outcome reports, and match funding evidence for auditor or funder review.
Assurance engagement support
Support funder-appointed auditors or independent examiners and resolve queries before grant sign-off.
UK grant funders — including National Lottery distributors, UK Research and Innovation, local authorities, and charitable trusts — frequently require independent assurance over how funds were spent. Requirements range from independent examination of project accounts to full statutory audits where charity thresholds are met. Grant agreements specify eligible costs, match funding obligations, outcome reporting, and clawback provisions for non-compliance. We track expenditure against grant budgets in restricted funds, prepare reconciliation schedules linking general ledger postings to funder claim forms, and assemble evidence for compliance audits. Proper grant accounting under the Charities SORP or FRS 102 prevents questioned costs, funding recovery, and reputational damage with public sector and institutional funders.
Common Questions
FCA-Regulated Entity Audits
Prepare audit-ready financial statements and regulatory reporting schedules for firms authorised by the Financial Conduct Authority. FCA-regulated entities must meet SYSC requirements for internal controls, client money rules, and capital adequacy — we compile working papers aligned to both ISA (UK) and FCA regulatory reporting obligations.
SYSC internal controls documentation
Control frameworks documented per FCA SYSC requirements supporting both regulatory and audit review.
Client money and asset audits
CASS reconciliation schedules prepared for client money rules and custody asset verification testing.
Capital adequacy reporting
Regulatory capital calculations reconciled to audited financial statements for FCA annual returns.
ISA (UK) and FRC standards
Financial statements prepared under FRS 102 with FCA-specific disclosure and auditor reporting requirements.
How It Works
Regulatory scope assessment
Identify FCA permission types, SYSC applicability, CASS obligations, and reporting requirements for your firm.
Controls and CASS documentation
Document internal controls, client money reconciliations, and custody asset records for audit testing.
Financial statement preparation
Prepare FRS 102 accounts with regulatory capital note disclosures and FCA annual return reconciliations.
Dual regulatory and audit support
Support statutory auditor fieldwork and FCA reporting deadlines concurrently with aligned working papers.
Regulatory scope assessment
Identify FCA permission types, SYSC applicability, CASS obligations, and reporting requirements for your firm.
Controls and CASS documentation
Document internal controls, client money reconciliations, and custody asset records for audit testing.
Financial statement preparation
Prepare FRS 102 accounts with regulatory capital note disclosures and FCA annual return reconciliations.
Dual regulatory and audit support
Support statutory auditor fieldwork and FCA reporting deadlines concurrently with aligned working papers.
FCA-authorised firms must maintain systems and controls under SYSC rules, comply with Client Assets Sourcebook (CASS) requirements where applicable, and submit audited financial statements as part of regulatory reporting. Statutory audits of FCA-regulated entities follow ISA (UK) standards with additional auditor reporting considerations under the FRC Ethical Standard for public interest entities where applicable. We prepare FRS 102 financial statements reconciled to regulatory capital returns, client money trust account reconciliations, and internal control documentation satisfying SYSC 6 and SYSC 7 requirements. Dual preparation for statutory audit and FCA regulatory review reduces duplication and ensures consistency between audited accounts and the firm's annual regulatory return submitted via RegData.
Common Questions
Audit Preparation & Readiness Assessment
Assess your organisation's audit readiness before engaging a statutory auditor — identifying FRS 102 gaps, incomplete reconciliations, and missing PBC schedules that delay fieldwork and increase fees. A structured readiness review reduces surprises during ISA (UK) audit programmes and accelerates Companies House filing timelines.
Pre-engagement gap analysis
Trial balance, reconciliations, and FRS 102 disclosures reviewed against a standard audit PBC checklist.
Risk area prioritisation
High-risk balances — revenue, debtors, stock, related parties — flagged for priority preparation.
PBC pack pre-assembly
Core schedules indexed and prepared before the auditor's engagement letter to reduce fieldwork delays.
Fee and timeline forecasting
Readiness score and remediation plan estimating audit duration and likely fee impact before engagement.
How It Works
Current state review
Analyse trial balance, prior-year audit report, management letter points, and bookkeeping quality.
Gap identification and scoring
Compare records against ISA (UK) PBC requirements and FRS 102 disclosure checklist with priority ranking.
Remediation plan delivery
Provide actionable fix list with timelines for reconciliations, accruals, disclosures, and supporting evidence.
Pre-fieldwork sign-off
Confirm readiness with indexed PBC pack before statutory auditor fieldwork commences.
Current state review
Analyse trial balance, prior-year audit report, management letter points, and bookkeeping quality.
Gap identification and scoring
Compare records against ISA (UK) PBC requirements and FRS 102 disclosure checklist with priority ranking.
Remediation plan delivery
Provide actionable fix list with timelines for reconciliations, accruals, disclosures, and supporting evidence.
Pre-fieldwork sign-off
Confirm readiness with indexed PBC pack before statutory auditor fieldwork commences.
Audit preparation and readiness assessment identifies gaps in your financial records before a registered auditor begins ISA (UK) fieldwork — the most effective way to control audit cost and timeline. We review adjusted trial balances, bank reconciliations, fixed asset registers, stock counts, revenue cut-off, related-party transactions, and FRS 102 disclosure drafts against a comprehensive PBC checklist. Prior-year audit findings and management letter points are tracked to ensure repeat issues are resolved. Readiness assessments are particularly valuable for first-time audits, companies crossing statutory thresholds, post-acquisition integrations, and businesses transitioning from audit exemption under section 477 to mandatory audit. Remediation completed before engagement reduces scope limitations and qualified opinions.
Common Questions
External Auditor Coordination
Serve as your single point of contact for statutory auditor communications — managing PBC requests, fieldwork scheduling, query resolution, and report issuance through to Companies House filing. Proactive auditor coordination minimises business disruption and prevents qualified opinions caused by incomplete responses or missed deadlines.
Single liaison point
All auditor communications channelled through us — reducing director and finance team disruption during fieldwork.
PBC list management
Auditor request lists tracked, prioritised, and fulfilled with indexed evidence packages on agreed timelines.
Fieldwork scheduling
On-site and remote audit sessions coordinated with key personnel availability and stock count dates.
Report issuance support
Management representation letter, subsequent events review, and board papers prepared for audit sign-off.
How It Works
Engagement letter review
Review auditor scope, timeline, fee estimate, and PBC requirements before fieldwork commences.
PBC fulfilment and tracking
Manage provided-by-client schedule delivery with status tracking and escalation of overdue items.
Query resolution during fieldwork
Respond to auditor inquiries, provide substantiation, and negotiate adjustments before draft report stage.
Sign-off and filing coordination
Coordinate audit report signing, board approval, and iXBRL tagging for Companies House submission.
Engagement letter review
Review auditor scope, timeline, fee estimate, and PBC requirements before fieldwork commences.
PBC fulfilment and tracking
Manage provided-by-client schedule delivery with status tracking and escalation of overdue items.
Query resolution during fieldwork
Respond to auditor inquiries, provide substantiation, and negotiate adjustments before draft report stage.
Sign-off and filing coordination
Coordinate audit report signing, board approval, and iXBRL tagging for Companies House submission.
External auditor coordination manages the relationship between your organisation and your FRC-registered statutory auditor throughout the ISA (UK) engagement. We review engagement letters for scope and fee proportionality, maintain PBC request trackers with clear ownership and deadlines, and respond to auditor inquiries with organised evidence packages. During fieldwork we coordinate access to personnel, systems, and documents — resolving testing exceptions before they escalate to audit adjustments. At completion we support management representation letters, subsequent events reviews, and board papers approving the audited accounts. Final coordination includes iXBRL tagging and Companies House filing within the nine-month deadline. Effective liaison typically reduces total audit hours by twenty to thirty percent compared to uncoordinated engagements.
Common Questions
Frequently Asked Questions
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