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MMBA are the leading auditors in London, carrying out both statutory and non-statutory audits for businesses in London and across the United Kingdom. Our team has expertise across many sectors and can offer bespoke industry support throughout the entirety of the audit process.
Our dedicated team of auditors in East London will take a thorough look at the main aspects of your business. We would class ourselves as being among the small audit firms in London, but would make the point that size is relative, we are small for London but big by many other standards – and we tend to audit medium to larger enterprises, allowing them to file their statutory audit safe in the knowledge that it has been completed with diligence and accuracy.
Why do we need an audit?
United Kingdom Law requires all medium and large businesses, including Public Limited Companies, to undertake a statutory audit annually. These audits give a highly detailed picture of the business’ financials, risk assessments and analytics ensuring that all compliance and all applicable regulations have been adhered to and should be undertaken by properly qualified Auditors. London based businesses have no shortage of audit firms in London.
A statutory audit, when properly performed, can provide shareholders, directors and stakeholders with a fully comprehensive overview. Our team of auditors in East London can explain how this can be used as a foundation for further research into financial possibilities or as evidence for planning future funding or expansion opportunities.
Should we consider a non-statutory audit?
There are many businesses which are not required to undertake an audit by law, but choose to conduct one anyway. Our team of auditors in East London can explain how a non-statutory audit can provide your business with information that can provide evidence of a healthy trading position – making banks more likely to make favourable decisions when finance or investment is required.
Our specialist team of auditors & accountants in London can also talk you through how such an audit can be useful in keeping your credit insurers and suppliers happy, and help make sure that if you decide to sell your business you will get the best possible price. But most of all, by getting their business checked out by our dedicated team of auditors London customers of MMBA get the peace of mind that comes with knowing that their business is in sound health.
We may be one of the small audit firms in London but MMBA customers still get “big company” service. Our non-statutory audits are fully compliant with regulatory agencies such as ATOL and SRA (Solicitors Regulation Authority). The information that our team of dedicated auditors in London will provide allows our clients to evidence 100% compliance and ensure their standing with regulators and banks is always high.
As one of the well established audit firms in London we also regularly provide audits required by the OFS (Office for Students) for businesses providing services into the education sector.
Best UK-Based Financial Accounting Firms in London
MMBA, with its unmatched auditing services stands among the best financial accounting firms in London. MMBA offers a combination of audit, advisory, tax, and consultation services, and our experts span various industries and sectors.
Why choose MMBA as your Audit Firm?
MMBA is one of the smaller audit firms in London, but from a client’s perspective, that is a massive plus. Unlike many of the much larger audit firms in London, we do not put your business in the charge of junior account handlers and researchers. When they come to our auditors London businesses are treated with the gravitas they deserve. We firmly feel that of all the many audit firms in London our clients find that our personal and friendly service is a true breath of fresh air.
Our dedicated team of auditors in East London has many years of experience conducting both statutory and non-statutory audits. When they engage the services of MMBA’s auditors London businesses gain the benefit of our experience looking after some of the top firms in the United Kingdom and our impressive track record providing highly accurate work tailored individually to our clients’ particular requirements.
MMBA-like Audit Approach of Accounting Firms in London
The audit approach of MMBA is similar to the one adopted by Big Four audit firms and involves a structured and systematic process for examining an organisation’s financial statements and internal controls to provide an independent assessment of their accuracy and compliance with accounting regulations and standards. A general overview of the typical audit approach is as follows:
- Engagement planning by understanding the client, risk assessment, and audit planning.
- Internal control evaluation by assessing internal controls and control testing.
- Substantive testing by testing transactions, sampling, asset valuation, and liability verification.
- Audit evidence collection by documentation, analytical review, and external confirmations.
- Audit testing and procedures by revenue recognition, expenses and liabilities, fair value measurements, and tax considerations.
- Communication and reporting by audit report and management letter.
- Completion and review by quality assurance and final report.
Audit and Assurance Services by MMBA Auditors in London
MMBA auditors provide essential audit and assurance services for businesses in the UK to ensure the accuracy of their financial reporting and compliance with regulatory requirements. Following are the key audit and assurance services provided by MMBA auditors in the UK
- Financial statement/ statutory accounts audits
- Compliance audits
- Internal audits
- Regulatory and statutory audits
- Agreed-upon Procedures (AUP) Engagements
- Review engagements
- Due diligence audits
- Grant and Fund audits
- Fraud examination and forensic audits
- Internal controls testing
- Sustainability and Non-Financial reporting audits
MMBA’s Quick and Efficient Audit Approach
MMBA’s efficient and robust audit approach is characterized by thorough planning, documentation, rigorous testing, and adherence to ethical principles and professional standards. It had been designed to assure that the financial statements are free from material misstatements and that the audit has been conducted with due care and diligence
Business Advisory
MMBA’s business advisory services provide high quality advice to encompass a broad range of guidance and consulting provided to businesses to help them achieve their goals, improve their overall performance, and solve their problems
External Audit
MMBA’s external audit is a critical process that provides an independent assessment of an organisation’s financial statements and internal controls
Internal Audit:
MMBA provides internal audit services, which are a crucial function within an organization that provides independent and objective consulting services and assurance.
Talk to MMBA’s Auditors
MMBA’s auditors provide excellent financial auditing services. Don’t hesitate to get in touch with our specialist auditors for easy, affordable, and excellent financial auditing services.
Looking for a Top Accountant or Auditor in London – Hire MMBA
While looking to hire a top accountant or auditor in the UK, businesses consider some key factors, like the size and complexity of your business, the specific services you need, and your budget. MMBA auditors are the right choice for you if you want to hire a top accountant who meets your specific accounting services needs and helps you manage your financial and auditing requirements effectively.
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MMBA’s Auditing Services FAQs
What is an auditor? What does an auditor do?
An auditor is an individual who carries out an audit. An auditor’s role is to cover aspects of the financial statements to ensure that the company is complying with accounting standards, and that the information provided is accurate, and that it truly represents the company’s financial position
How much will an audit cost?
Depending on the size of the firm and the size of the audit, the cost could vary. For example, audit firms in London, in comparison to small audit firms in London, will usually cost more due to the fact that larger firms will tend to have more reliability, experience, and quality and be able to hit deadlines due to their larger teams.
What are the types of audits?
There are typically three types of audits. The most common type of audit is a financial audit, which will evaluate the company’s financial accounts to ensure they provide accurate information to all shareholders. The other type of audit is a compliance audit; this will normally test if the company complies with the specific regulatory guidelines. Finally, the last type of audit would be an operational audit, which will test the company’s activities and operations.
What’s the importance of auditing and tax advisory services?
Auditing and tax advisory services are crucial for the financial management of your business. They serve the purpose of financial integrity, compliance, efficient resource management, risk management, investor confidence, planning and strategy, competition and growth, and legal compliance.
How can MMBA auditors help businesses with tax advisory services in the UK?
In the UK, auditors can help businesses with tax advisory services in many ways. MMBA auditors primarily focus on financial statement audits and provide valuable tax related advice and services to help businesses ensure compliance with tax laws and optimize their tax positions in the UK.
What’s the role of auditors in ensuring compliance and financial accuracy?
To maintain trust and confidence in financial reporting, the role of auditors in ensuring compliance and financial accuracy is essential. They play a crucial role in the financial ecosystem by independently verifying and assessing the financial information provided by organisations.
Name some common challenges faced by businesses in audit processes ?
Businesses often face several challenges during the audit process. The factors contributing to such challenges can stem from the complexity of financial transactions, the need for effective communication, and changes in regulations. These challenges can be complex transactions, internal control weaknesses, accounting estimates, financial reporting framework changes, data quality and completeness, lack of documentation, scope limitations, and valuation of assets.