Lanham Accountants

Enquiries:

01799 530223

info@lanham.co.uk

QuickBooks and
IT support

Find out more

Charity
and Not
for Profit

Find out more

Property

Find out more

Starting a
Business

Find out more
Audit

Audit

Lanham and Company prides itself on prompt, efficient and professional audit services. Our range of audit work includes:-

  • statutory (external) audits for companies;
  • charity audits;
  • grant claim audits;
  • solicitors accounts rules audits; and
  • internal audits.

External audit services

We have over 25 years experience in providing this regulated service to our clients. Current numbers taken from the Register of Statutory Auditors shows there are just 7,051 firms and 24,932 individuals approved to carry out the audit of annual accounts within the UK.

The statutory audit under the Companies Act of annual accounts can be triggered due to levels of turnover and asset levels, for charities lower thresholds are set by the Charities Act and their own rules.

In brief the audit involves obtaining evidence about the figures and disclosures in the accounts to give reasonable assurance that those accounts are free from material misstatement, whether caused by fraud or error. As auditors we are required to form an opinion on those financial statements as to whether they give a true and fair view of the state of the company's affairs and also that they have been properly prepared in accordance with laws and regulations.

External audit services

Lanham and Company have been committed to the charity and not for profit sector for over 25 years and was founded with an initial client base of charities and Registered Social Landlords requiring audit and accountancy services and one of the local building societies which required an internal audit service. The practice has continued to focus heavily on the charity sector ever since with Andrew Ireland FCCA heading this team.

We provide a comprehensive compliance and support services for this specialist client base covering accounts production, independent examinations, statutory audits and grant funding work. We are also able to advise trustees and management regarding such matters as internal controls, the Charities Act 2011 and risk management.

Solicitors and the Solicitors Accounts Rules

Since the early 1930’s the holding of client money has been covered by rules through various laws and regulations, the most recent update being the SRA Accounts Rules 2011, issued by the Solicitors Regulation Authority Board which came into effect in October 2011 replacing the 1998 Rules. These rules fulfil the requirements of the solicitors Act 1974, the Administration of Justice Act 1985 and the Legal Services Act 2007.

The purpose of the legislation is to protect clients’ money held with specific requirements on how a solicitor must comply with the management of such money, its receipt, use and how it is recorded and accounted for. Solicitors that hold client money are required, within six months of their accounting year to file, with the Solicitors Regulation Authority (SRA), an Accountants Report.

As Reporting Accountants we are required to follow the specific checks and tests laid down by the SRA to enable the Accountants Report and checklist to be completed and signed, whilst this is not an audit to be qualified to do this work as Reporting Accountants, one must be a qualified accountant and a registered auditor. We have been providing this specialist service for over 25 years to our clients.

Require more information?

If you would like more information or would like to ask us a question please call us on 01799 530223 or email info@lanham.co.uk.