The word ‘audit’ can strike fear into the largest and most organised of corporations and a company secretarial audit is no different. This audit will check that all statutory registers, annual returns and important board records and other vital documents are in place. This is a necessary audit for all companies and preparing for it can be time consuming and stressful unless all records have been highly organised throughout the year. Companies can save time, hassle and money with the company secretarial audit service from London Registrars (https://www.london-registrars.co.uk/).
Corporate and legal support firm London Registrars provides outsourced company secretarial services as just one of its many and varied support functions. However, even those companies which feel they handle the role of company secretary efficiently in-house can still find themselves floundering at audit time. This is because there are multiple steps to carry out to ensure full compliance with an audit. First, an audit checklist should be created to ensure all the necessary checks will be made. This checklist will be particular to your firm, based on the particular documents and registrations that have to be filed. This will depend on the size of the company and board, the ownership, the registrations required, the financial assets and interests of the company, among many other things. It may be helpful to refer to a previous company secretarial audit to find out the specific requirements.
Along with important financial documentation, there is likely to be personnel information that must be included in the audit such as details of board members, shareholders, the chief financial officer/treasurer and the company secretary. Minutes of board meetings throughout the year must also be filed. Compiling the final report from all this information takes the most time as checks and double-checks are carried out to ensure full compliance with the audit.
Predictably, all of this takes significant time, effort – and in the case where records are not sufficiently organised – hassle. It can also cost a company money, either in employee resources or in fines for failing to meet regulatory requirements. Little wonder, then, that London Registrars’ company secretarial audit service is in high demand. Handing this task over to a professional, efficient and experienced company can ensure the audit goes smoothly and painlessly while you and your team can continue with the smooth running of your company.
The London Registrars company secretarial team will work closely with your in-house team to help create a checklist that pertains to the particular requirements for your firm’s audit. It will then help to source and file all necessary documentation, both those kept in-house and externally. The final audit report will be compiled swiftly yet thoroughly and with minimum disruption of your employees and board members.