First-time audit clients
Understand the process, evidence expectations and ownership before fieldwork.
Tax, Audit & Accounting
Audit & Assurance
Prepare reliable evidence, strengthen financial controls and establish early whether your organisation requires a statutory audit or another form of assurance.
- Audit requirement review
- Evidence readiness
- Control improvement
Important information
Tax and accounting content is general information, not advice for your circumstances. Every engagement will identify the responsible legal entity and its professional or regulatory status. Statutory audit work is only undertaken by an appropriately registered audit firm.
Included in the service
What’s included
Audit-readiness, financial control reviews and appropriately scoped assurance support for growing organisations.
- Audit-requirement discussion
- Prepared-by-client schedule
- Balance-sheet reconciliation pack
- Financial control walkthroughs
- Evidence-room organisation
- External auditor liaison
Before we speak
Explain who has requested the work and what they expect to receive: preparation for an external audit, a controls review or another defined engagement. Tell us about your year-end, accounting system and existing auditor. The required scope and the provider's responsibilities must be established before the work is agreed.
Who we help
Is this right for you?
These are some of the situations this service covers. Your proposal will reflect the work and support you actually need.
Finance teams under pressure
Prepare reconciliations and manage open requests through one structured tracker.
Growing organisations
Strengthen core financial controls before complexity or assurance needs increase.
Pricing
Scope and responsibility confirmed before any assurance work
Fees depend on entity size, records, reporting framework, locations, timetable and the exact nature of assurance required.
01
Discovery
We establish your current position, desired outcome and constraints.
02
Defined scope
You receive clear deliverables, responsibilities, assumptions and timescales.
03
Request a scoped quote Written proposal
Fees are agreed before work begins, with optional phases shown separately.
Statutory audit is only provided where the engagement identifies an appropriately registered audit firm as responsible. Audit-preparation support is quoted separately.
The detail
Where we focus
Requirement assessment
Consider company size, group structure, articles, shareholder requests and sector-specific requirements.
Audit readiness
Create lead schedules, reconcile balances and organise evidence before external fieldwork starts.
Controls review
Document key financial processes and identify practical gaps in approval, access and review.
Auditor coordination
Manage queries, evidence requests and ownership so the process remains controlled.
The process
How the work happens
- 01
Establish scope
Confirm the reporting entity, framework, assurance requirement and responsible provider.
- 02
Prepare
Close the ledger, reconcile material balances and assemble supporting evidence.
- 03
Coordinate
Track requests, explanations, adjustments and responsibilities through fieldwork.
- 04
Improve
Capture control observations and agree proportionate actions for the next reporting period.
Before we startYour questions,
Your questions,
answered.
Does every limited company need a statutory audit?
No. For financial years beginning on or after 6 April 2025, a private company may qualify for small-company audit exemption if it meets at least two of the relevant turnover, asset and employee limits, but group status, articles, shareholders and regulated activities can change the answer.
Does Novawize provide statutory audits?
A statutory audit will only be accepted where the engagement identifies an appropriately registered audit firm as the responsible service provider. Until that authorisation is confirmed, Novawize’s website offering is limited to audit preparation, coordination and non-statutory control support.
Can you work with our existing external auditor?
Yes. We can prepare schedules, coordinate evidence and manage open items while preserving the external auditor’s independence and responsibility.
Related services
Plan the next piece of work.
Let’s start with your priorities
What needs to work better?
Tell us about your business, the problem you’re working through and any dates that matter. We’ll discuss the scope and the next step with you.