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We are delighted to announce that the Institute of Chartered Accountants in England and Wales (ICAEW) has approved our application to become Registered Auditors. This is great news as we can now offer you a service which, previously, we had to subcontract to business partners. The team is already in place, headed by our Director Lorraine Farnham, who joined us two years ago. Lorraine’s background is in audits, having spent four years at EY and the City doing just that, and it’s also her first love. Yes, it is possible to love audits and Lorraine’s approach to them is, as you’d expect from Nordens, refreshingly different. “I find the business of audits incredibly interesting; it appeals to my inquisitive nature,” says Lorraine. “I know from experience, that the best audits are products of diligence, scrutiny and understanding. It’s all about investigating what’s behind the figures to get the best picture of how a business is performing, where it’s going. It’s not just a fact-finding mission and you must never take anything at face value; scepticism is an asset when it comes to audits.”
The role of auditors, since the demise of Carillion, has been in the spotlight, as have Carillion’s auditors KPMG and Deloitte. Both companies signed off accounts that indicated the business was in good health 12 months before it collapsed with a pension deficit of about £580m and owing over £900m. Investors, who had been deserting the company in droves, clearly knew Carillion wasn’t in good health, so what could they see that the auditors didn’t? “I can’t answer that question, but I do know you can’t conduct an audit wearing blinkers, you have to have an understanding of what’s going on in that industry, not just the company, without that knowledge you’ll never have the full story.”
Not every company needs to be audited. In general, those which do are:
Lorraine and her team are already off to a flying start, working on audits for construction and media companies. If you’d like to know more about this service, just call us on 020 8530 0720 and Lorraine, or one of her team, will be happy to help.
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In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier, the difficult part was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.
Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). They follow the bye-laws, regulations and ethical guidelines of the ACCA and we are an ACCA accredited employer. We are also accredited by Professional Passport for our Umbrella and accountancy services.
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In celebration of our 18th birthday, we’ve launched our Refer-a-Friend scheme, allowing you to receive a thank you gift from us of up to £1,000 for successfully introducing a new client.
Our team of experts will be in touch to find the very best time to hold a free, no strings attached, one-hour consultation.