Auditing Services

There are many reasons why businesses require an audit but, in all cases, the accuracy, breadth and level of detail in reporting are paramount. Whether you are undertaking an audit to optimise business processes, or to satisfy the requirements of a third party, you should choose an auditor whose service will meet your objectives.

At Monetta, our approach to auditing reflects the high-priority insights that power decision-making and offers a detailed overview of business performance. No matter what your reason is for needing an audit, we will work with you to understand your desired outcomes and deliver on your exact specifications and expectations.

We have a wealth of expert accounting and tax knowledge, and so we deliver a first class service when it comes to auditing businesses of all different sizes, operating across many different industries. To learn how our Auditing Services could benefit your business, fill in our online enquiry form.

How our Audit Services can help

The team at Monetta take a thorough approach to auditing which addresses the needs of business owners and third parties alike. This includes reviewing the integrity of financial statements, bookkeeping and accounting data; identifying inefficiencies and enabling risk management by investigating internal processes; evaluating the quality of data analytics; and meeting any specific third-party requirements.

In addition to auditing, we deliver a comprehensive range of accounting and tax services, and we can leverage our experience to offer more than just financial reporting during an audit. Our team will examine the bookkeeping, accounting, and internal audit processes in order to identify inefficiencies and to assist with implementing new processes that will reduce risk.

We understand in detail how different metrics can affect business performance and we are fully aware of the tax and other financial regulations that apply, even when these differ by industry and sector. By applying this expertise, we will ensure that your financial statements meet all of the relevant legal obligations.

Why choose Monetta?

Monetta combines the high standards of client care that you would expect from a local firm of Chartered Accountants but with the resources and capabilities of a much larger organisation. Our offices are based in Manchester, Liverpool and Newton-le-Willows in the North West of England, but we look after clients who are spread across the UK. 

We have significant experience in delivering audit and assurance services for businesses of all sizes. If you are concerned about ensuring the accuracy of your Financial Statements, we can also provide a range of Accounting and Bookkeeping Services which will fulfil your needs and help you meet all of your legal requirements with limited oversight.

Whether working from our offices or from your premises, we can produce reliable and accurate tax returns, management accounts and financial statements that will guide your decision-making and offer up-to-date insights into business performance.

FAQs about our audit services

What should I look for in a business offering audit services?

If you are planning to work with external audit services, it is important to evaluate them based on the criteria you want. Do you want audit procedures that minimise disruption to your business? Or is it important to work with audit specialists who have particular experience in your field? Once you have clarified what you are trying to achieve, there are several ways you can judge the suitability of particular auditing services. Ask yourself the following questions:

• What professional qualifications and credentials do the accountants have? Are they chartered? Are they members of a relevant professional body, such as the Institute of Chartered Accountants in England and Wales (ICAEW)?
• Does the accountant have relevant experience in your specific industry? Given that different sectors have their own regulatory and financial requirements, working with an experienced professional can give you greater confidence in the result of your audit.
• Have they worked on audits with similar businesses? The team at Monetta has worked on audits for organisations of all sizes, from SMEs to multinational companies, and we know that the process can differ significantly from one to another. 
• Do they have an up-to-date knowledge of UK regulations and compliance requirements? How about the latest accounting standards? Are they familiar with the latest accounting software and audit tools? This can be important for efficiency and accuracy. Experience with HM Revenue and Customers and other relevant regulatory agencies is also a must, beyond an understanding of the specific regulations.
• Are there any conflicts of interest? Integrity and honesty are key to delivering high quality audits. Working with an organisation that does not declare conflicts of interest, or that does not have relevant experience in your industry, are among the key audit risks that can create problems.

Beyond these questions, which primarily address the hard skills accountants need to conduct audit services, there are also soft skills that can make the process easier. Auditors must have strong attention to detail and be able to notice minor discrepancies, then use them to inform decision making. They should be able to explain complex financial concepts in an understandable manner, and communicate promptly and clearly during your collaboration. The auditor will need to work well with your internal team and other stakeholders. Finally, they should offer valuable insights and recommendations beyond basic auditing tasks, to maximise the value you get from their services.

It can be hard to verify these skills, but one way is to check online reviews or client testimonials. Positive feedback from clients can go a long way towards building trust and giving you confidence in the quality of external audits.

What audit services does Monetta offer?

Monetta's chartered accountants deliver high quality audits for businesses across a range of UK industries, and provide a tailored service that takes into account your specific requirements. There are several different types of audit for which Monetta can offer complementary auditing services:

• Annual financial statements: reviewing financial documents to make sure a company's accounting complies with the relevant laws and accounting standards.
• Regulatory compliance: ensuring the company adheres to any specific laws that apply to its industry, particularly financial reporting or tax obligations
• Risk management: evaluating a company’s risk management processes and controls.
• Operational audits: assessing the efficiency and effectiveness of business operations and procedures.
• Compliance audits: checking compliance with internal policies and procedures.
• Forensic audits: detecting and investigating fraud or financial misconduct.
• Due diligence audits: reviewing the financials of a target company during a merger or acquisition to provide an accurate valuation and risk assessment. This can include evaluating the financial stability and compliance of suppliers and vendors.
• Financial health checks: carrying out periodic reviews of financial statements to check for ongoing accuracy and compliance.
• Interim audits: conducting audits during the financial year to provide early insights and identify potential issues.

With our experience using cutting-edge technology (including cloud-based services), our attention to detail and our many years of experience in data analytics, the audit professionals at Monetta can support your business in whatever way you require. Contact us to discuss your needs and we can help to develop an audit plan that will deliver on your objectives.

Contact us

If you need a thorough and reliable Audit Service, or general advice on how you can implement better data recording and management processes, speak to our team today to see how we can help.

Fill in our online enquiry form to request a call back at a time that is convenient for you. Or visit our team page to find out more about our expert advisers and what they can do for you and your business.