Does your Company Require an Audit ?
Accounts Production
As a Chartered Accountancy practice and Registered Auditors we prepare annual accounts on behalf of sole traders, partnerships, and limited companies. These accounts are prepared on an annual basis.
We provide advice on bookkeeping and technical advice on the Financial Reporting Standards (FRSs) issued by the Accounting Standards Board and the International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board.
Annual Financial Statutory Audit
Michael Duffy & Co are registered auditors with the Institute of Chartered Accountants in Ireland. Our audits are carried out in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board.
An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. Based on risk analysis for each client, sample testing is conducted on areas of risk in order that enough audit evidence is obtained, to give reasonable insurance that the client’s financial statements are free from material misstatement, whether caused by fraud or other irregularity or error.
The annual audit should be conducted in an efficient and focused manner to provide the audit assurance required for reporting, substance and compliance. The audit must be constructive and assist in identifying the risk factors attaching to each entity. The identification of risk areas will facilitate management in implementing approaches and controls appropriate in managing that risk.
The audit review of internal procedures and controls will be used as an opportunity to review the effectiveness and operation of the existing controls and suggest improvements in operational procedures, where required.
Is Your Business Audit Compliant ?
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