Statutory Auditing

A statutory audit gives the people who rely on your accounts, banks, investors, grant bodies, Revenue and your fellow shareholders, independent assurance that your financial statements are accurate and complete. As Chartered Accountants and Registered Auditors, Stephens Cooke & Associates carry out statutory audits in Ireland to the standards the law requires, with a clear timetable and minimal disruption.

Registered Auditors you can rely on

Only practices holding an audit registration can sign off a statutory audit, and we hold that registration. When we issue an audit opinion, it carries the weight a regulated audit is meant to carry: credibility with lenders, confidence for shareholders and a clean record with the CRO.

Our audit team works with owner-managed companies, larger trading groups, charities and not-for-profit organisations across the Midlands and nationally, focusing each engagement on the areas that matter to your business.

Do you need an audit, or can you claim exemption?

Many small Irish companies qualify for audit exemption if they meet the size thresholds in the Companies Act and have filed their CRO annual returns on time. There is an important catch: miss the annual return filing deadline and you can lose the exemption, triggering a mandatory audit for the year. Certain companies, including some regulated entities and group companies, cannot claim exemption at all.

We assess your eligibility honestly. If you qualify for exemption and an audit adds no value for you, we will tell you. If an audit is required, or if one would strengthen your position with a bank or investor, we explain why and what it involves. Either way, you make an informed decision.

A constructive, risk-based audit

A good audit is more than a compliance exercise. Our approach is to:

• Plan around the specific risks in your business, rather than applying a generic checklist
• Test your accounting records, internal controls and key balances
• Verify that disclosures meet Irish company law and accounting standards
• Form an independent opinion on whether the accounts show a true and fair view
• Issue a signed audit report, and a management letter where we spot practical improvements

That management letter is often the most valuable part. It flags weaknesses in your controls and processes before they become problems, and sound records also stand you in good stead if Revenue ever opens an enquiry. See our guide to preparing for a Revenue audit.

Audit that fits with the rest of your compliance

An audit works best when the underlying records are in good order. We can look after your accounts preparation, bookkeeping services and corporation tax so the figures reaching audit are reliable and consistent. Where we act as both accountant and auditor for a group, we manage the relationship between the two roles in line with professional independence rules.

Our company secretarial services also keep your CRO annual returns filed on time, which, as above, is what protects your audit exemption in the first place.

Working with us across the Midlands and Ireland

You can meet our audit team at our Mullingar office or at our offices in Longford, Trim and Athlone. We audit companies right across Ireland, combining on-site work with secure remote access to your accounting system so the engagement fits around your business.

If you need a statutory audit, want a second opinion on whether you qualify for exemption, or are tendering for funding that requires audited accounts, get in touch. Book a free consultation with our Registered Auditors and we will set out a clear approach for the year ahead.