Audit and Assurance Related Affairs

Non statutory audit:

Many small businesses don’t need to have audit by law. However many of our clients still choose to have one, as there are tremendous benefits available for example:

  • Achieve best price when selling business,
  • Financial institutions such as banks are more comfortable to provide finance,
  • Keep credit insurers and suppliers happy,
  • Keep customers confident,
  • Give you assurance in terms of internal controls and accurate results.

Statutory audit:

If your business is not a small company, there is a requirement of audit by law: (According to the UK's Companies Act 2006 a small company is defined as one that does not have a:

  • Turnover of more than £6.5million,
  • A balance sheet total of more than £3.26 million
  • And not more than 50 employees) you are required

If your business meet 2 out of above requirements, your business still require account to be audited by independent auditor. However above may not apply for charities and not for profit organization.

At Goldstar:

We have been providing audit and assurance services to small and medium size companies which include following sectors.

  • Educational institutions,
  • Wholesale and retail,
  • Charities,
  • Not for profit organizations,
  • Solicitors accountant reports,