Global audit services
Whether you are the subsidiary of an overseas international holding company, or a UK company with overseas subsidiaries, we are able to provide you with a comprehensive range of international audit services.
Our expert team are highly experienced in working on large and small cross border audit engagements as the lead auditor and as a component auditor reporting to the parent company’s auditor. Our team can draw on experience of international audits gained at Big 4 firms and other large national firms.
The PrimeGlobal member firms share with us a commitment for quality service to all clients, no matter where they choose to do business. We are able to swiftly draw upon this association to identify appropriate audit firms in over a hundred countries. We are also equally well versed in both reporting to or instructing non-PrimeGlobal firms of all sizes.
How we can help
Instructing component auditors
Where we provide the audit opinion on the consolidated statutory accounts of an international group, our initial focus is on understanding the group audit requirements. We develop the group and individual component level audit scopes, addressing audit materiality and audit risks.
We can also build in additional requirements to certain component teams as part of the group instructions on particular areas of interest to you, which may not necessarily be related to an audit risk. We define the scope of the additional work and help co-ordinate the feedback of the results.
Communication is key for an efficient group audit being carried out to time. Up front communication is essential in determining the scope of all components and clearly defining the work required from all component auditors. Throughout the audit process, we will discuss any issues as they arise to ensure a swift resolution and prevent any unpleasant surprises late in the day.
Upon completion of the audit, we will report on the issues arising both in the UK and internationally, utilising the information received from the component auditors. This process starts the initial scoping discussions for the following years’ audit. It also acts as a debrief on what went well on the group audit and as part of an ever-evolving audit process, plans the approach for any significant audit issues expected to be encountered in the future.
Acting as component auditor
We audit the UK subsidiaries of many international groups and are well versed in responding to a wide variety of group instructions provided to us. These come from all sizes of international firms and in many differing formats, ranging from secure online group reporting portals to completing a host of Word and Excel documents.
We work tirelessly to meet group reporting timetables and deadlines and take very seriously the need to provide early warning messages if there are issues identified in our work that may jeopardise the reporting deadlines. This prevents nasty surprises and enables all parties the opportunity to dedicate sufficient time and resource in resolving issues in order to get back on track and meet all deadlines.