We strive to deliver ‘best experience’ to all our audit & assurance clients by delivering a high quality and efficient service, which causes minimum disruption and provides maximum commercial value.
We recognise that each business will have its own preference for the way we communicate with the various stakeholders. This can range from a detailed partner-led presentation to the Audit Committee, down to the minimum required by auditing standards.
Our financial audit services
Our people are true experts in the application of audit methodology and we apply a modern approach. This starts with gaining a deep understanding of the business which, supplemented by our sector experience, allows us to design a bespoke audit plan that robustly addresses audit risk with laser-focus.
As a core member of HLB International, we have extensive experience of performing international audit assignments, whether co-ordinating global efforts as lead auditor or reporting to another firm on the audit of a UK component.
Assurance and other non-audit services
Audit thresholds have increased over recent years, with the intention of reducing red tape and, for many owner-managed businesses, this is a welcome development. But every company is different and stakeholders in certain businesses will be left feeling exposed with no independent checks.
We make it our business to stay ahead of the latest developments and are represented on multiple ICAEW panels, tasked with shaping the future of the industry. As such, we will advise you on the best approach and there are various non-audit services available, which can deliver a more limited form of assurance compared to an audit:
This usually takes the form of a review of financial statements (whether annual, interim, statutory or for management purposes), which whilst offering a lower level of assurance than an audit, is less detailed and costs less.
Work performed is predominantly inquiry-based, without the need to review many supporting documents. For example, a client may want a quarterly review of its management accounts in order to give a lender greater comfort as to their accuracy.
Assurance reviews may also take other forms. For example, offering assurance on the compilation of forecasts for inclusion in a business plan or on the calculation of KPI’s used in a report that a company wishes to share with customers. All our assurance reviews are carried out under the applicable guidance issued by the IAASB.
This is an entirely bespoke solution that can provide assurance on a wide variety of subjects, whether financial or operational. We agree a clearly defined set of criteria against which we perform our testing and provide you with our results, showing clearly whether these criteria have been met.
For example, a publisher may require assurance that they are calculating royalties due to particular authors accurately and in accordance with their contracts. Our agreed-upon-procedures are carried out under the guidance of ISRS 4400 issued by the IAASB, where appropriate.
Internal Controls Assurance Review
We can provide a review of your internal controls around financial reporting to give assurance on both the design and operating effectiveness. This could be a full review of the entire system, or a more focused review in areas where you have specific concerns.
For example, are controls around the recording of stock appropriate to detect shrinkage, whether through wastage or theft? Are controls around the preparation of your management information adequate to provide timely and accurate information? The impact of not addressing such issues can be severe.
To speak to a partner or for more information about the services we offer please contact one of the Menzies LLP offices or complete our online contact form.
“Menzies have been an incredible partner for us as we’ve moved from the US into the UK. They’ve helped us navigate a new business climate, displaying exceptional local expertise, while also responding quickly and pragmatically to the growing requirements of a tech company. By plugging us into their network of contacts, our entry has been significantly easier than it would have been without them.”
Wiredscore UK Limited, Wiredscore UK Limited June 18, 2018
“Menzies provided, audit, tax and company secretarial services to SFW. Their work was always to a very high standard and we found them easy to work with. When we sold the business Menzies provided significant help during due diligence and completion activities. They were highly responsive, particularly, when we had last minute requests for assistance and were thoroughly professional. I have no hesitation in recommending them.”
Steve Elliott – SFW Ltd Director
SFW Ltd, SFW Ltd August 17, 2016
“Lilou et Loic have worked with Menzies over the past year and we continue to be impressed with their knowledge, efficiency and the high calibre of support they provide. The Menzies team look after our year end accounts in a timely and efficient manner, and continue to provide proactive advice in many areas of our business, from keeping track of our product margins and fixed costs to providing us with beneficial forecasting advice. We are also liaising with other teams within Menzies, for example they are assisting us with crowdfunding options and have advised us on building a strong business plan.
We look forward to continuing our relationship with Menzies and have no hesitation in recommending them.”
Lilou et Loic, Lilou et Loic August 17, 2016
“Throughout our many years of working with Menzies, we have always found them to be professional in all aspects of their work. The team currently deal with our UK trading company and the holding companies which includes acting as the group auditors for a large international group. Their historical knowledge of our company and operations is highly important to us especially as we have a fairly complicated group structure. The team are reliable, friendly and organised in their approach.
We would have no hesitation in recommending Menzies to any other company.”
Crabtree & Evelyn, Crabtree & Evelyn August 17, 2016
“Menzies LLP have acted as our auditor and advisors for a number of years. The company has a holistic range of services to offer, from the compliance aspects of our business and consultancy services which are undertaken by specialist teams. The firm have recently undertaken a business valuation for a successful acquisition of an overseas subsidiary that our group acquired as it continues to grow and branches out into the overseas markets. We have found Menzies to be reliable, honest advisors and would not hesitate to recommend them.”
Contechs Holdings Limited, Contechs Holdings Limited August 17, 2016
“We have known Menzies for a very long time. The firm acts as our auditors and advisors for the company and our family’s own personal matters. The team fully understand our affairs and come up with pro-active solutions that are in our best interest and tax efficient for the business and family. We also utilise the services of Menzies Wealth Management so the teams work closely together to ensure our affairs dove tail in their advice. The team are trustworthy and reliable and we would not hesitate to recommend them for your personal or company affairs.”
Down Street Electrics Limited, Down Street Electrics Limited August 17, 2016
“We have been working with Menzies for a number of years on compliance and advisory matters. The team are approachable and proactive, offering constructive and helpful support, Menzies have over the years during the development of our business consistently met our needs. The team work well to ensure that we achieve our internal deadlines and communicate with us along the way. We would happily recommend Menzies to others.”
David Moss, Head of Finance – Emmi (UK) Limited
Emmi (UK) Limited, Emmi (UK) Limited August 17, 2016
“We are a very long standing client of Menzies and they deal with all our financial requirements from day to day bookkeeping through to higher level advisory support. They are always courteous, professional and considered – and relevant to our sector – providing us with solutions that are prompt and accurate and help us to run the business as efficiently as possible. We would have no hesitation in recommending their services.”
Takashi Kamimura – Mary Quant Limited
Mary Quant Limited, Mary Quant Limited August 17, 2016
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