News & Press

What is a CASS audit?A Client Assets Sourcebook (CASS) audit is a prerequisite for many UK investment firms. Brought into sharp focus in the wake of the Lehman Brothers collapse in 2008, the main purpose of the FCA’s CASS rules is to protect...

At the end of each financial year the directors are required to prepare financial statements for that year in accordance with company law and accountancy standards. Those financial statements may be subject to an audit because it is a...

Auditors fail to report with clarity and relevanceThe data extracted during an audit is like a food recipe, though many firms utilise high quality ingredients quality is not guaranteed. This is because auditors fail to combine these...

Failing to be audited when you should have been can result in legal action.  Therefore, getting it right at the outset is essential.The following companies always need to be audited:Non-dormant subsidiaries of public companiesSubsidiaries,...

A foundation CIO is a legal entity specifically intended for non-profit organisations. Its only members are the trustees. Quite uniquely a foundation CIO is registered with the Charity Commission only, and not with Companies House.Setting up...

Company audits can be a complicated process if you have never been through one before and you may have a lot of questions about the audits and the auditing process.At Wisteria we have several years of experience of processing company audits...

For business owners and key management staff, an audit is often seen as a necessary evil, a box to be ticked in order to satisfy compliance. In fact, an independent audit can add real value to your company. It can help you spot weaknesses in...

The headline thresholds for companies that are required to be audited have not changed for a number of years: £10.2m turnover; £5.1 assets; and 50 staff. However, below the surface are a number of exceptions and you will need to consider...

Sensitive company information in the public domain can be used by various stakeholders such as employees or in particular competitors to gain an advantage.A classic example of this, and an accountants worst nightmare, is when the detailed...

With the excitement of Christmas and New Year’s Eve behind us, most of us are looking forward to the year ahead, full of plans and optimism. January often feels like a month dedicated to fresh starts, but before beginning a new year of...

Within most leases there is often a requirement for the landlord to provide an annual statement of service charge expenditure to occupiers after a service charge period. It is common for the annual statement to be certified by the landlord’s...

Companies often believe that this is an easy calculation…just apply 10% against our debtor balance.Now this may work as an approximation for your management accounts but it won’t do for your annual financial statements. Below is a description...