What does audit preparation support include?

Start with the auditor’s information request list, the reporting timetable and the state of the accounts. Identify missing reconciliations, unsupported balances and unresolved accounting questions before assigning deadlines. A first audit may need additional planning around opening balances and historical records.

The agreed scope can include a readiness review, preparation tracker, schedule coordination and query management. The external auditor determines their procedures and evidence requirements. Preparation cannot guarantee a particular audit opinion, completion date or reduction in fees.

A practical audit preparation checklist

  • Trial balance with a clear link to the accounts and supporting schedules.
  • Bank reconciliations and explanations of outstanding items.
  • Receivable and payable listings with disputed or unusual balances identified.
  • Fixed asset schedules, relevant contracts and loan documentation.
  • Support for accruals, prepayments and material estimates.
  • Board records and other documents requested by the auditor.

This is a planning starting point, not an exhaustive evidence list. Agree the actual requirements with your auditor and use secure channels for sensitive documents.

Track ownership and review, not just document uploads

A folder full of files is not necessarily an audit-ready pack. Each schedule should have an owner, a reporting date, a link to the relevant balance and evidence of management review. Record changes so the auditor does not work from an outdated version.

For example, a receivables schedule may agree to the ledger but still contain a long-standing disputed invoice. Log the dispute, collect the available evidence and ask management to assess the accounting treatment. Marking the spreadsheet “complete” does not resolve that judgement.

Does my company need an audit?

Audit requirements depend on the company’s circumstances and the relevant financial year. Exemptions have conditions, and articles or shareholder requests can also matter. Use the GOV.UK audit exemption guidance as a starting point and confirm the position for your company before relying on an exemption.

This preparation service does not determine eligibility through the enquiry form and does not advertise statutory audit services. Your appointed auditor and relevant advisers retain their own roles.

Use the preparation work to improve the next close

Recurring audit queries can point to a monthly process gap: late reconciliations, inconsistent evidence or estimates that are not reviewed. Translate agreed findings into named actions rather than leaving them in last year’s audit folder.

Link improvements to internal controls implementation and the monthly reporting process. To scope support, share your year-end date, audit timetable and main preparation concerns. Fees and responsibilities are agreed before work begins.

Your questions, answered.

Will you perform our statutory audit?

No. This page offers management-side audit preparation and coordination. An appointed external auditor performs the audit and issues any audit opinion.

Can you help with a first audit?

We can discuss a readiness review, opening information requirements and a preparation plan with your finance team and appointed auditor.

Can you guarantee a clean audit opinion?

No. The audit opinion depends on the auditor’s independent work and findings. Preparation support does not predetermine that outcome.