In a Limited Assurance Engagement we expresses an opinion regarding your organisation’s financial accounts which is intended to be relied upon by third parties (thereby creating a duty of care between the accountant and the third party).
The key features of our assurance services is that we provide an independent unbiased opinion on your accounts. They
•Enhance the credibility of the information being reported on
•Reduces the risk of management bias, error or even fraud in the information being reported on
•Draws the attention of the user to any deficiencies in the information being reported on
In situations where a small business is owned by more than one party and the business’s turnover is below the audit threshold, a limited assurance engagement provides an objective opinion on the financial aspects of the business for owners and shareholders who are not involved in the day to day running of the business.
In accordance with laws and regulations governing the financial operations of charities, organisations with gross income of between £25,000 and £1,000,000 are required to have an independent verification of their financial statements. Where gross income exceeds £250,000 the independent examination must be a qualified accountant.
Here at Manking Associates, we provide independent verification of financial accounts of charities, provide guidance on improving internal controls that reduce the likelihood of errors and fraud whilst strengthening the quality of the numbers reported in the financial statement. Our services can improve the credibility of your organisation in the eyes of the public by having an independent objective opinion on the financial statements.
The other services we offer include business planning, internal controls and accounting system review, budgeting and forecasting, internal audit and management information. We are constantly exploring ways of improving services offered to clients . Contact us today to find out more.