Audit and assurance
Contact our auditors
An audit should give you more than ticked boxes. At PKF Smith Cooper, we take the time to really understand your organisation and produce insights that support decision-making and enhance governance, adding real value.
Whether you have statutory and regulatory obligations to meet or are seeking an independent perspective on your organisation’s systems and controls, we can fulfil all your audit and assurance needs.
A quality audit offers benefits beyond compliance. It can build trust with stakeholders and flag areas of financial or operational risk. While audits review past performance, their findings can inform the future and support long-term growth.
Our client relationships are built on transparency, with costs and timelines agreed upfront so you know exactly what to expect before your audit begins. We promise no surprises where fees or scope are concerned.
Why choose PKF Smith Cooper
Relationships and continuity
From your people to your priorities, we develop a solid understanding of your organisation. Familiarity is key to a long-lasting relationship and wherever possible you will work with the same audit team each year.
Partner and director led audits
Your audit will be led by one of our partners or directors and supported by a highly skilled team. This senior-level direction ensures you benefit from industry-leading expertise and consistent oversight.
Local presence, global reach
As the Midlands home of PKF Global, we have strong local knowledge and offices across the region. Our international capabilities mean we can support complex groups and international subsidiaries with cross-border reporting requirements, including IFRS and other reporting frameworks.
Switching auditors
Moving your audit services to PKF Smith Cooper is straightforward. We manage the entire changeover for you, from liaising with your outgoing advisors and agreeing timelines upfront to overseeing a smooth handover of information. With our structured onboarding process, you are guaranteed minimal disruption to your business operations and clear communication throughout.
Our audit and assurance services
We deliver a full range of audit and assurance services.
- Statutory external audit — External audits provide independent assurance over your financial statements and credibility for shareholders, lenders and regulators. They also build trust in your reporting and aid access to funding.
- Internal audit — Internal audits provide an objective evaluation of risk management, governance and internal controls. They provide management and the board a clear overview of how well systems are operating and where risks and opportunities exist. They can make your organisation more resilient and increase stakeholder confidence in your daily operations.
Specialist audit and assurance services
- Academies and schools
- Charities and not‑for‑profit organisations
- Limited liability partnerships
- Due diligence and transaction‑related assurance
- Internal audit and risk assurance
- Support with UK GAAP, narrative reporting and international reporting requirements such as IFRS
Our external audit process
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Understanding your organisation
We examine how your systems operate, where different responsibilities lie and any areas that require closer evaluation. We also develop and apply knowledge of your sector and its specific risk areas to ensure our work remains focused and relevant.
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Planning your audit
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Conducting fieldwork and testing
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Timetable and deliverables
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Ensuring consistent service delivery
Wherever possible, we keep your audit team the same each year, building effective working relationships and a more efficient audit cycle.
Our internal audit approach
Effective internal audit provides ongoing assurance rather than a single, annual snapshot. This is delivered through a programme of periodic reviews.
- Building an annual or multi-year internal audit plan, which aligns with your organisation’s risk register and priorities
- Individual reviews focused on specific systems, processes or risks
- Reporting findings to management, trustees or the audit committee
- Follow-up on our recommendations to track progress and impact
- Supporting broader GRC (governance, risk and compliance) and organisational resilience objectives
Technology-enhanced, people-driven audits
Investing in innovative, cloud‑enabled audit software has elevated our audit process, allowing our auditors to work collaboratively across locations, supporting both on‑site and remote delivery. We also use automated tools and data‑analysis techniques to sharpen risk identification and provide deeper insight into your financial information.
While technology enhances the efficiency and depth of our audits, it does not replace the value of working closely with our team, who provide the insight, understanding and relationship that underpin a successful audit.
Who we work with
We support organisations across a wide range of industries in the Midlands. Our audit team have specialist experience in the following:
- Owner managed and family run businesses
- Multi entity groups
- Private Equity backed groups
- Charities and not for profit organisations
- Academies and education providers
- Arts, culture and heritage organisations
Audit and assurance can benefit organisations in any industry, even where audits are not legally required. Voluntary assurance can support your business in a number of ways, from strengthening funding applications to building trust with stakeholders.
Frequently asked questions
What is the difference between internal and external audit?
Internal audit evaluates your internal controls, risks and governance. External audit provides independent assurance over your financial statements.
Do all organisations need an audit?
Not always. It depends on the organisation’s size, structure and regulatory requirements. Even if you are not legally required to audit your organisation, conducting an independent examination or assurance review has many benefits.
How long does an audit take?
This varies significantly, depending on the size and complexity of your organisation. Our team will evaluate your audit needs upfront and formulate a timetable of deliverables before audit work starts.
What information will you need to audit my firm?
We provide a tailored audit request list upfront and work collaboratively with your team to minimise any disruption to your organisation’s day-to-day activities.
