McMillan Woods Audits Limited
provides clients with an extensive
and personalised range of Audit and related Services
Accounting & Business Advisory
Our Accounting and Business Advisory Services
We know that businesses need an accountant they can trust to partner with them on their journey,
whether you're an ambitious entrepreneurial start-up, a medium sized business ready to scale, or a
large enterprise looking at your future strategic goals.
If you are looking for a trusted business advisor, peace of mind, expert support and more of that all-
too-precious time, our accounting experts are on hand and ready to help.
Our accounting services are tailored entirely for you and your business, so however complex or simple
your needs, we'll work with you to build a package that focuses on the areas where you need
support, and where we can add the most value to your business.
Our assurance work is conducted under a variety of frameworks that are based on international
standards. As a result, the services we provide can be tailored to the small, independent business to
the larger, multinational businesses.
Assurance services may be specific to particular sectors or available across a broad range of
businesses and can involve reporting to the business itself or to third parties, including regulators.
Examples of the type of services we provide are:
reports to directors on un-audited financial statements
independent examination on small registered charities
internal controls assurance reports
Due Diligence Exercise
If you're involved in a merger or acquisition, you'll want to be sure you have a clear, detailed
understanding of the true value and risks of the target business.
McMillan Woods Audits demonstrates an outstanding track record when it comes to delivering
financial due diligence (FDD) services for all transaction types.
We are an experienced provider of Due Diligence for acquisitions, strategic alliances, and joint
Synergies, operational compatibilities and deal structuring opportunities are highlighted and
Supplementary assurance services provide specialised financial analysis.
Statutory audits are legally required to review the accuracy of a company's financial records. The
purpose of a statutory audit is the same as the purpose of any other type of audit: to determine
whether an organisation is providing a fair and accurate representation of its financial position by
examining information such as bank balances, bookkeeping records, and financial transactions.
Who needs to complete a Statutory Audit?
Your company must have an audit if at any time in the financial year it's been:
A public company (unless it is dormant)
A subsidiary company (unless it qualifies for an exception)
An authorised insurance company or carrying out insurance market activity
Involved in banking or issuing e-money
A Markets in Financial Instruments Directive (MiFID) investment firm or an Undertakings for
Collective Investment in Transferable Securities (UCITS) management company
A corporate body and its shares have been traded on a regulated market in a European state
As seen above, not all businesses need an audit, but that does not mean you should not get one
done. If you are a growing business or considering a sale/merger, a voluntary audit could help
identify areas of risk, highlight the potential improvement in your business, and make you more
appealing to investors.
If you want to improve your performance and ensure good corporate governance, you need an
independent, objective and rigorous audit of your business. You also need one that is geared
towards understanding your goals and ambitions, and that supports you to achieve them.
Our audit and assurance team offer a fresh approach to internal audit. Our risk-based approach
positions the audit in the context of your own risk management framework, making it into a
cornerstone of governance. We work with your Board to develop a deep understanding of your
business's financial, operational and governance risks, and to deliver a clear, tailored and practical
report, free from lengthy disclaimers.
We typically work with our clients to provide:
A fully outsourced internal audit service
Where we will oversee all of your internal audit function and requirements, helping to
identify and manage risks; or
A co-sourced internal audit service
Where we bolster your existing internal audit function with experienced internal auditors, to
help fill any resource and knowledge gaps.
Our team are here to help boost value, efficiencies, and strength of internal controls and help future
proof any organisation against their most significant risks.