Maksym Stepanenko
Managing Partner, Crystal Tax
International client projects since 2012: company structures, tax, immigration, DUNS and NCAGE. 50+ jurisdictions.
Your company is registered in the UK and employs at least 50 people? Or is there more than £10 million in profits? Then you can not avoid the audit and, for sure, you want to get the right result. To achieve what you want, you will need the help of a Crystal Tax auditor and in today's guide you will understand why.
Audit is a check of the company's financial activities, its reporting and organization's accounting in order to increase the confidence in the company on the part of investors, creditors and consumers. The purpose of such a check is:
In simple words, an audit allows you to protect your business from risks, abuse of power within the company or illegal actions with the help of an auditor whose purpose of action is to detect violations and provide tools to correct or eliminate them. After the audit, you should receive a report containing information on the amount of turnover, the consolidated balance sheet of the enterprise, the amount of profit and loss until the moment of payment to the participants of the company, the total capital or loans, as well as the funds invested by the participants that were written off during the year.</p >
It is worth noting that some subsidiaries may be exempt from audit if the parent company was registered in one of the EU countries. But now it's time to understand how exactly a company is audited in the UK.
You must understand that the audit of any company, regardless of the size of the company and its type of activity, consists of several stages:
It is worth noting that although auditors have access to all documents and may require clarification of some inaccuracies, they do not have the right to transfer the received data to third parties. That is, the auditor is required to follow a code of ethical conduct.
When planning to conduct an audit of a business and wanting to get an honest report, contact the Crystal Tax consulting company. We know how difficult it can be to find a professional auditor, so we have assembled a cool trained team that is ready to work for you and provide the desired result. By choosing us, you will receive:
Entrusting your business to Crystal Tax, you can be sure that you will be comfortable working with our specialists who will understand your business and take an individual approach to servicing it. So, when planning an audit of your company to bring it to a new level, order the services of our specialists and we will bring you to the desired result!
Maksym Stepanenko
Managing Partner, Crystal Tax
International client projects since 2012: company structures, tax, immigration, DUNS and NCAGE. 50+ jurisdictions.
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Our advantages
Corporate structuring, company registration in Ukraine and abroad, tax and reporting, migration, bank accounts, DUNS and NCAGE codes. We run the whole project, from choosing the solution to the finished documents.
Confidentiality terms are set out in our contract. We do not pass information about a client or their project to third parties, except where the law expressly requires it.
We compare jurisdictions against your business task: tax regime, reporting, substance requirements and access to banking. On the call we go through the upsides and the limits of each option.
We name the timeline for every step before the work starts — it depends on the jurisdiction, the registrar and the bank. Personal data is used only to deliver the service.
We handle the correspondence with registrars, government bodies and banks and answer their requests ourselves. From you we need documents and signatures.
We take each case to the finish: if an authority or registrar comes back with remarks, we revise the documents at no extra charge. The fee is calculated for your task before work starts.