Audit

Independent Audits That Go Beyond Compliance

WDS are ICAEW registered auditors providing statutory audit, assurance engagements and grant audit certificates for a wide range of organisations across Yorkshire — from owner-managed limited companies and charities to pension schemes and solicitor practices.

Our audit team works closely with each client to understand what makes their organisation unique before the audit begins. We identify the areas of genuine risk rather than applying a standard template, which means the audit is focused on what actually matters — and the findings are more useful when it’s done.

Compliance is the starting point, not the finish line. Where we find areas for improvement, we say so clearly and explain what to do about it. Where we find strengths, we help you understand how to build on them. The result is an audit that gives your stakeholders confidence and your management team something actionable.

Our audit registration can be verified at auditregister.org.uk under reference number C006839848.

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Charities

Charities in England and Wales are required to have their accounts audited if their gross income exceeds £1 million in the financial year, or if their gross income exceeds £250,000 and their total assets exceed £3.26 million. Below these thresholds, an independent examination is required rather than a full audit.

Pension schemes

Occupational pension schemes with more than 100 members are generally required to have their accounts audited annually. Schemes with fewer members may also require audit depending on their trust deed and rules.

Solicitors

Solicitors who hold or receive client money are required under the Solicitors Regulation Authority (SRA) Accounts Rules to obtain an accountant’s report from a qualified accountant — effectively a specific form of audit of their client account. WDS has experience in preparing solicitors’ accounts reports.

Grant-funded organisations

Many organisations that receive public funding, grant income or funding from charitable bodies are required to provide a grant audit certificate as a condition of that funding. This is separate from a statutory audit and applies regardless of the organisation’s size.

Limited companies — the audit threshold

Under the Companies Act 2006, a company is required to have a statutory audit unless it qualifies as small. A company qualifies as small if it meets at least two of the following three conditions in a financial year: – Annual turnover no more than £10.2 million – Balance sheet total no more than £5.1 million – No more than 50 employees on average during the year However, even if your company qualifies as small, a statutory audit may still be required if: – Your company is part of a group that requires audit at group level – Your shareholders holding 10% or more of shares have requested an audit – Your bank, lender or investor requires audited accounts as a condition of funding – Your constitution or articles of association require it – You are a public company

Statutory Audit

A statutory audit is an independent examination of a company’s financial statements, required by law for companies above the audit threshold. The purpose is to provide shareholders, directors and other stakeholders with an independent opinion on whether the financial statements give a true and fair view of the company’s financial position. Our statutory audit process involves a thorough review of your financial records, internal controls and accounting policies. We identify areas of risk, test the accuracy of the figures, and form an independent opinion that meets the requirements of UK auditing standards (ISAs UK). We work efficiently to minimise disruption to your team during the audit process and communicate clearly at every stage — including any findings or recommendations that arise during fieldwork, rather than saving them for the end.

Assurance Engagement

An assurance engagement provides an independent evaluation of financial or non-financial information without the full scope of a statutory audit. It is used where a stakeholder — such as an investor, lender or parent company — requires independent verification of specific information, but a full audit is not required or appropriate. Assurance engagements can take the form of a review engagement (which provides limited assurance) or an agreed-upon procedures engagement (where specific procedures are agreed in advance with the commissioning party). We advise on the most appropriate type of engagement for the purpose intended.

Grant Audit Certificates

Where your organisation has received funding from a public body, local authority, charitable foundation or other grant-giving organisation, you may be required to provide a grant audit certificate confirming that the funds have been used in accordance with the grant conditions. We prepare grant audit certificates for a range of funded organisations, including charities, community organisations, housing associations and businesses receiving public funding. We are experienced in the specific requirements of different grant bodies and can liaise with the funding organisation directly where needed.

Organisations We Work With

Our audit team has experience across a range of sectors and entity types. The most common organisations we audit across Yorkshire include:

Limited companies — statutory audits for owner-managed businesses, family companies and those with external shareholders or lending relationships that require audited accounts.

Charities and not-for-profit organisations — charity audit and independent examination for registered charities in England and Wales, with an understanding of the specific requirements of the Charity Commission and the Charities SORP.

Pension schemes — audit of occupational pension schemes including defined benefit and defined contribution arrangements, in accordance with the requirements of the Pensions Act and relevant auditing standards.

Solicitors — preparation of accountant’s reports for solicitors holding client money under the SRA Accounts Rules, including review of client account reconciliations and compliance with Rule requirements.

Grant-funded organisations — grant audit certificates for organisations receiving public, charitable or statutory funding across a range of grant programmes.

If your organisation type isn’t listed above, contact our team — our audit experience is broad and we are likely to have worked with similar organisations.

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How Our Audit Process Works

Pre-audit planning

Before fieldwork begins, we review your previous accounts, identify the key areas of risk specific to your business or organisation, and agree timelines and requirements with your team. Good planning means the audit itself runs more smoothly and takes less of your time.

Fieldwork

Our audit team conducts a detailed review of your financial records, tests transactions, reviews internal controls and gathers the evidence needed to form an audit opinion. We communicate any issues as they arise rather than presenting a list of findings at the end.

Completion and reporting

On completion of fieldwork, we prepare our audit report setting out our opinion on the financial statements. Where our work has identified areas for improvement in internal controls or financial processes, we set these out separately in a management letter — giving your team clear, actionable recommendations.

Ongoing relationship

For most clients, the audit is part of a broader relationship with WDS that includes accountancy, tax and other advisory services. This means the audit findings connect to your wider financial position rather than sitting in isolation — and we’re available throughout the year, not just at audit time.

Why Choose WDS as Your Auditor

WDS are ICAEW registered auditors — our audit registration can be verified at auditregister.org.uk under reference number C006839848. We have been providing audit services to organisations across Yorkshire for many years, with a team that combines technical audit expertise with genuine commercial understanding of the businesses and organisations we work with.

We are also a full-service accountancy firm, which means our audit team has direct access to our tax, accountancy and corporate finance specialists when the audit raises questions that sit outside the audit itself. For owner-managed businesses in particular, this matters — an audit that surfaces a tax planning opportunity or a control weakness with commercial implications can be acted on immediately, not filed and forgotten.

Our offices across Bradford, Elland, Huddersfield, Leyburn, Northallerton and York mean we work with organisations throughout West Yorkshire and North Yorkshire, with a local presence in each area we serve.

Provides Assurance to Investors & Lenders:

Our audit service instils confidence in investors and lenders by providing a robust review of your financial systems and practices.

Highlights Strengths and Weaknesses:

Beyond compliance, we identify the strengths that can be leveraged and weaknesses that require attention, offering a holistic view of your business’s financial health.

Guides Strategic Planning:

The audit process forms the basis for strategic planning, helping set and align business objectives with a clear understanding of your financial landscape.

Can I Combine Audit Services with Other Financial Solutions?

Absolutely! We offer integrated financial solutions such as statutory accounts preparation and VAT, which are tailored to your needs. Combining audit services with other offerings ensures a cohesive approach to managing your business’s financial health.

How Can I Initiate an Audit with WDS?

Initiating an audit is easy. Contact our team here to discuss your specific needs, and we’ll guide you through the process.

Are Audit Services Only for Compliance?

No, our audit services extend beyond compliance. While ensuring adherence to regulations, we focus on optimising your business systems, identifying areas for improvement, and contributing insights for strategic growth.

How Does Your Audit Service Align with Business Development?

Our audit service goes beyond compliance to identify areas for further development. By uncovering strengths and weaknesses, we provide valuable information that facilitates informed business development and sustainable growth.

What Information is Provided in Grant Audit Certificates?

Grant Audit Certificates provide a thorough examination of financial records related to grants. They ensure compliance with grant conditions and offer a comprehensive overview of fund utilisation.

Can I Choose Specific Areas for Audit Focus?

Yes, our audit service is tailored to your business. We work with you to identify key areas of risk and can concentrate on specific aspects that are crucial to your organisation’s financial health.

How Does the Audit Process Benefit My Business?

The audit process provides assurance to investors and lenders, highlights strengths and weaknesses in your financial systems, and forms the basis for strategic planning. It is a vital tool for achieving compliance and fostering business development.

What Entities Can Your Auditors Assess?

Our experienced auditors can assess a diverse range of entities, including charities, pension schemes, solicitors’ accounts, and limited companies. Their wide-ranging expertise ensures a comprehensive audit approach.

Why is an Assurance Engagement Important?

An assurance engagement goes beyond compliance, providing a broader evaluation of your business systems. It enhances transparency, identifies strengths and weaknesses, and contributes valuable insights for strategic decision-making.

What is a Statutory Audit?

A statutory audit is a mandatory examination of a company’s financial statements to ensure compliance with regulatory standards. It provides stakeholders with confidence in the accuracy and reliability of the financial information.