WD Audit

WD AUDIT is an audit practice registered with the ICAEW (Institute of Chartered Accountants in England and Wales)

Together, audit and other assurance services play a fundamental role in the successful management of an organisation, particularly when auditors establish effective working relationships based on mutual trust and respect, with key players within a company, including management, non-executive directors and other advisers.

We can help you focusing on your creative process by taking over your administrative task.

Clients benefit from:

Our unique, integrated structure allows us to put together a stable team under a single partner.
Our robust and challenging approach to audit. We do not shy away from face-to-face discussion and challenge on audit issues – we have all the technical processes and procedures clients would expect.
Partner-led client service. We do not make a habit of changing your WD audit team once it has engaged with you – it is the norm for the partner and manager who starts working with you to stay with you as long as current rotation rules allow.

What is a Statutory Audit?

Statutory audits are legally required to review the accuracy of a company’s financial records. The purpose of a statutory audit is the same as the purpose of any other type of audit: to determine whether an organisation is providing a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records, and financial transactions.

Do you need to complete a Statutory Audit?

Your company must have an audit if at any time in the financial year it’s been:

A public company (unless it is dormant)
A subsidiary company (unless it qualifies for an exception)
A subsidiary company (unless it qualifies for an exception)

1. Any size subsidiary undertaking whose parent is established under the law of an EEA state (subject to Brexit changes in company law) can choose to take an exemption from audit through a parent guarantee. The subsidiary company must be included in the consolidated accounts drawn up by the parent undertaking.
2. The parent guarantee does not need to be from the immediate parent. The parent company indefinitely guarantees the subsidiary’s liabilities that exist at the year-end by disclosure in the notes of its consolidated accounts and filing a form at Companies House.

An authorised insurance company or carrying out insurance market activity
Involved in banking or issuing e-money
A Markets in Financial Instruments Directive (MiFID) investment firm or an Undertakings for Collective Investment in Transferable Securities (UCITS) management company
A corporate body and its shares have been traded on a regulated market in a European state

A company with financial records above two of the following thresholds: