Responding to COVID-19: Our onsite peer reviews will be conducted remotely until further notice, to help you comply with the various regulatory requirements – even when your practice is working from home. Find out more.
We can provide a range of accounts reviews to help you implement and/or improve upon best practice procedures and ensure you remain up to date with accounting standards, whilst identifying efficiency savings, helping you to cut down on unnecessary costs and time, thereby increasing your profitability!
During an accounts review, we will review a number of files to assess compliance with the latest financial reporting standards and make any recommendations that may be of benefit to the firm.
Frequently, clients tend to combine an accounts file review, with general tax file reviews, to ensure the tax work is supported by the accounts function, whilst trying to identify any areas for improvement.
Accounts efficiency reviews
As with audit work, the majority of our visits show scope for efficiency savings in accounts production work, thereby helping to improve your recovery and increase your profitability.
Our accounts efficiency reviews look for ways to cut costs without cutting the quality of the work being undertaken, by analysing a number of accounts preparation files to identify the scope for efficiency savings.
The efficiency review starts from first principles, namely "how should this job be approached?" and compares this approach with that actually adopted. It looks at the approach adopted, the time spent on sections and the extent of work undertaken. It also reviews the information requested from, and provided by, the client.
Live accounts planning reviews
During an accounts planning review, our technical consultants work with the individuals involved in the accounts planning process to help develop a planned approach to an accounts assignment. The skills learnt by the team can then be implemented on all future assignments, resulting in significant efficiency savings.
You will receive a full written report following your review setting out our findings, as well as any recommendations for improvements.
Why not combine your accounts file review with another review on the same day?
Whilst we are on site, we could combine your accounts file review with another compliance review on the same day.
Price available on application.
Mercia Members receive a 10% discount.
Prices quoted are subject to VAT and expenses.