Understanding the first-year audit process

For growing businesses, reaching the threshold for audit requirements is an exciting milestone, but can also be a daunting one.

Audit specialists Cat Feier and Nick Bishop take you through:

An overview of the audit process

The best way to prepare for your audit

How to approach first-year audits

Key points about audits

The audit process has three sections:

Planning –picking out key risks, then designing audit tests to address those risks

Fieldwork – gathering evidence in response to the risks

Finalisation – quality control, checking that risks have been addressed

The right auditors will establish a strong partnership with your team and proactively guide you: requesting information, agreeing goals and deadlines, explaining the role of technology, balancing remote work and in-person visits to strengthen collaboration and communication.

How BKL can help

Being an auditor goes beyond box-ticking for us. It’s our opportunity to help you manage risk, understand where your business has been and refine your journey ahead.

Whatever the size and sector of your business, our audit and assurance specialists are here to guide you – with our team becoming an extension to yours.

We get to know your business, systems and controls at a strategic level, making recommendations to support your commercial aims and growth plans. And we combine leading technology with a personal approach, so you can build trusted relationships with familiar faces.

For a chat about how we can help you with your audit, get in touch with Cat Feier or Nick Bishop, or send us an enquiry.