Assurance Reports
An assurance report offers external verification of financial information for organisations that do not meet the audit threshold but still require added credibility. Whether you need to satisfy stakeholder expectations, meet funding conditions, or support internal governance, an assurance engagement provides a valuable layer of independent external oversight.
What is an assurance report?
With more companies being able to take advantage of audit exemption, some may still choose to or be required to get assurance on their financial statements.
This includes an independent, professional reviews of the financial information, involving less detail than a full statutory audit. We issue a report at the end which states whether or not anything has come to our attention that we need to draw users of the financial statements to.
This is often used by:
- Companies that fall below the statutory audit threshold
- Organisations preparing for investment or sale
- Businesses seeking independent review for regulatory or funding requirements
Benefits of an assurance engagement
An assurance report will support your business by:
- Improving financial information to support better decision making
- Increasing confidence among investors, funders, and stakeholders
- Mitigating and managing risk in the business
- Showing stakeholders you are committed to transparency in reporting
- Supporting compliance with specific regulatory or contractual requirements
- Offering a cost-effective alternative to gain assurance on a specific matter
Our assurance reporting process
We tailor our approach to suit your business needs. Our process includes:
- Engagement planning – Understanding your objectives and financial reporting requirements
- Review procedures – Applying suitable assurance techniques to verify selected information
- Risk mitigation – Feedback on any underreported risks identified during out work
- Final report – Delivering an independent assurance report for your stakeholders
Book your review
If your organisation requires an assurance report or a limited financial review, contact the SMH Audit & Assurance team on info@smh.group or 01142 664 432.
