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The Role of the Audit in Combating Fraud

The Role of the Audit in Combating Fraud

An audit does not just provide confidence to the owner that a business is in good shape, it also offers evidence and assurance to third parties. An Audit permits the stakeholders of a business such as shareholders, banks, suppliers, customers and even staff to make better informed decisions about its current performance and their subsequent relationship to it, providing additional comfort when deciding whether to invest in, provide finance to, or trade with that business.

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The Advantages of Paperless Systems

The Advantages of Paperless Systems

Optimal efficiency is key to running a successful business in today’s fast paced environment. Using available technology to automate procedures can help to achieve significant time and cost savings across many departments, offering enormous benefits. 

Most of us are aware of Cloud Accounting systems, the best known of which are QuickBooks Online and Xero, but used to their fullest these are much more than just basic bookkeeping applications.

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Is your firm ready for Brexit?

Is your firm ready for Brexit?

As the UK prepares to leave the European Union and increasingly likely heading for a no-deal Brexit it is vital that businesses are prepared for the financial implications of this unprecedented change.

Whilst many companies have already started to consider how they will be affected by carrying out formal risk assessments there is still a small window of time to gain understanding and steps all firms should be taking to minimise future disruption - planning ahead now will help to ease transition and hopefully also bring long term benefits.

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IS YOUR FIRM MTD COMPLIANT?

IS YOUR FIRM MTD COMPLIANT?

Businesses are being encouraged by HMRC to register for Making Tax Digital before the August deadline.

According to HMRC 1.2 million businesses with an annual turnover above £85,000 will be affected by new rules requiring them to submit online quarterly returns using compatible software by August 7th; meaning any business wishing to pay by direct debit must register by July 27th.

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Five reasons businesses have poor cashflow

Five reasons businesses have poor cashflow

All businesses need a healthy cashflow to thrive – the old adage “cash is king” is as true now as it ever was.

So here are some of the main reasons businesses have poor cashflow:

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Are you really building a valuable business?

Are you really building a valuable business?

Most owners of small businesses believe they are building a valuable business which will eventually form an integral part of their retirement plans. Indeed, for a large proportion the disposal will have to form major part of their retirement fund. Many will be sadly disappointed when the time to sell finally arrives.

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Cunnington & Co Limited Chartered Certified Accountants & Registered Auditors

Edward House
Grange Business Park
Whetstone
Leicester
LE8 6EP

T: 0116 278 2380
E: info@cunningtonsaccountants.co.uk

COMPANY REGISTRATION NUMBER: 07786141
REGISTERED IN ENGLAND & WALES

Registered as Auditors and Regulated for a range of Investment Business Activities in the United Kingdom by the Association of Chartered Certified Accountants