Accounting & bookkeeping

Accounting & bookkeeping

Reliable books are the foundation of everything that follows: management decisions, tax filings, lender reports and, where required, an audit. Our accounting and bookkeeping service keeps ledgers current, produces management accounts you can actually use, and supports a disciplined year-end close.

The work can be ongoing bookkeeping, a periodic review and clean-up of records you already maintain, or focused help around year-end and the preparation of financial statements. We agree the chart of accounts, the reporting timetable and the responsibilities of each side so that the arrangement is clear.

Where we are also appointed as statutory auditor, independence rules may limit the bookkeeping we can do for that same entity. We will raise this at the outset and propose a scope that does not compromise an audit appointment.

Who it is for

This service is for companies, projects and other entities that need their records kept or brought up to date, that want monthly or quarterly management accounts, or that need structured support to close the year and prepare financial statements.

• Companies that want ongoing bookkeeping and management accounts
• Entities whose records need to be brought up to date before an audit or a financing review
• Projects that must keep a clean ledger for funder reporting
• Finance teams that want year-end close support without handing over day-to-day control

What is included

• Recording and reviewing transactions in an agreed chart of accounts
• Bank, receivables, payables and, where relevant, inventory reconciliations
• Monthly or quarterly management accounts and a short commentary on movements
• Year-end close support, including journals, cutoff and supporting schedules
• Preparation of draft financial statements, where this is part of the agreed scope

What you receive

• Up-to-date ledgers and reconciliations on the agreed cycle
• Management accounts in a format you can take to the board or to lenders
• A year-end pack of schedules that is ready for audit or review
• Draft financial statements, when included in the engagement

Why it matters

Incomplete or delayed records create problems that are far more expensive to fix later: missed filings, difficult audits, and decisions taken on figures that do not hold up. A steady bookkeeping rhythm, and a close that starts before the last week of the year, prevent most of those difficulties.

We do this work with an auditor’s eye for evidence and consistency, so the records are not only current but also ready to be examined. That is useful whether or not we are the auditor — and if we are not, your appointed auditor will find a file that is easier to work with.

How we work

Whether the engagement is a statutory audit or another assignment, we follow a clear sequence so that both teams know what happens next.

• Planning: Every engagement begins with planning. We take time to understand the entity or project, the applicable reporting framework, the people who will rely on the report, and the dates that matter to the board, lenders or funders. Scope, responsibilities and a realistic timetable are agreed in writing before detailed testing begins. We also agree the information we will need from management, and the points at which we will update you as work progresses. Good planning reduces last-minute pressure and helps both teams work in an orderly way.
• Risk assessment: Once we understand the entity, we assess the risks of material misstatement in the financial statements or, for a project review, in the expenditure and compliance areas covered by the terms of reference. This includes considering the business and its environment, the design of relevant internal controls, and areas that typically require judgment — such as revenue recognition, estimates, related-party transactions and going concern. The audit or review plan is then focused on those risks, so effort is concentrated where it will make the most difference rather than spread thinly across every account.
• Fieldwork: Fieldwork is the stage at which we obtain the evidence that will support our report. Depending on the engagement, this may include inquiry of management, inspection of documents, analytical procedures, confirmations, observation and substantive testing of transactions and balances. We work as far as possible from records that are already organized, and we raise questions and interim findings as they arise so that surprises are dealt with during the assignment, not in the final week. Fieldwork may take place at your premises, at our office in New York, or through a combination of on-site and remote work, agreed during planning.
• Reporting: When testing is complete, we evaluate the evidence as a whole, form our conclusions and discuss significant findings with management and, where appropriate, those charged with governance. For a statutory audit, the formal deliverable is the independent auditor’s report on the financial statements, usually accompanied by a management letter that records control observations and recommendations. For project or special-purpose work, we issue the report format required by the funder or the agreed terms of reference. We aim to explain our findings in clear language, so the report is useful as well as compliant.
• Follow-up: Issuing the report is not the end of a useful engagement. We walk management through the observations in the management letter or project report, distinguish between matters that need prompt attention and those that can be planned into the next cycle, and remain available to clarify our findings. Where we are reappointed, lessons from the current period inform planning for the next one — including information requests, cutoff procedures and any control improvements you have made. Follow-up is practical: the aim is a clearer file, fewer recurring adjustments, and a more orderly engagement the next time around.