Start with the decision, not the product
Statutory audit is independent assurance, not a substitute for management preparing its accounts.
This service is offered to all private and public companies. That audience description is not a legal eligibility test. Identify your actual objective, such as a suitable business structure, reliable reporting, a specific registration or a response to a notice.
The facts your adviser needs
Prepare financial statements, ledgers, bank evidence, asset records and prior audit issues.
Explain your entity, activities, locations, relevant period and any planned changes. Also disclose existing applications, filings or advisers so duplicated work and conflicting instructions can be avoided.
Ask about alternatives and trade-offs
Ask whether a narrower engagement, a different structure or better internal records would meet the same objective. Compare ongoing obligations as well as the first task. If a requirement is statutory, ask the adviser to identify the applicable official rule and relevant exceptions.
Trying to resolve major accounting gaps only at audit sign-off can delay reporting.
Make the readiness assessment concrete
Agree the applicable framework, audit timetable and evidence requests while preserving auditor independence.
Separate items you can resolve internally from those needing professional judgement or external approval. Record the dependencies and consider whether your team has enough capacity to maintain the resulting process.
Choose a next step you can verify
What evidence must management prepare and which independence restrictions affect other services?
Clarify entity coverage, reporting requirements and management responsibilities; audit opinions are not guaranteed.
Request a written recommendation that explains assumptions and the proposed scope. Where current eligibility or regulatory interpretation is uncertain, obtain case-specific advice before spending money or acting.
How to use this resource
