Financial Statement Audit and Review

We undertake audits of financial statements prepared under the applicable financial reporting framework. Our work is designed to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to report our opinion.

We develop our audit response from an understanding of the business, its reporting processes and the risks of material misstatement. We give particular attention to significant transactions, estimates, judgements and disclosures that affect the financial statements.

An audit provides a high level of assurance, but it does not provide absolute assurance or a guarantee that every misstatement will be detected.

A review provides limited assurance and may be appropriate where an audit is not required and a review meets the intended reporting need. Review procedures consist primarily of enquiries and analytical procedures, with additional work where the circumstances require it.

A review is substantially narrower in scope than an audit and does not result in an audit opinion. We discuss the required reporting purpose with you before agreeing the engagement.