Audit & Client Money Reporting

Where an audit is required, either for a regulated or non-regulated business in this sector, we have extensive knowledge and expertise in dealing with the key issues that may arise. These include but are not limited to:

• the application of UK GAAP as regards this sector including revenue recognition and balance sheet presentation
• planning for the proposed changes to the treatment of goodwill in 2008
• the correct application of FSA requirements for client monies.

We also use the audit as an opportunity to provide management and stakeholders with practical feedback and recommendations concerning internal controls and accounting procedures.

At the same time, we pride ourselves on providing clients with the appropriate level of service. For example, despite being regulated by the Financial Services Authority, insurance brokers can, if certain criteria are met, take exemption from audit of their financial statements.

For regulated businesses we can also report on client money in accordance with the FSA’s rules and undertake interim reporting where required.