New audit thresholds represent an increase of approximately 50% on former thresholds, and will be applicable for accounting periods commencing on or after 1 October 2024. The regulations will come into effect from 1 April 2025 to give business owners time to regularise any eligibility issues.
We are pleased to announce that Jacqueline Whyte, Director of Audit,has gained Responsible Individual (RI) status. This means that the firm now has five RIs conducting regulated audit work for clients in the public, private and not-for-profit sectors throughout Scotland.
In the latest edition of the SMTA magazine Auto Insight, Director of Audit Jacqueline Whyte asks “How exposed is your business to fraud?” and examines what can be done to minimise the risks.
Our Careers in Focus series continues with Malcolm McCrindle, one of our graduate trainees working in the audit team. As a mature student, Malcolm chose to change his career path and is now working towards becoming a professionally qualified accountant.
Thomson Cooper is here to explain when and how your accounts will be audited and the benefits an audit can bring to your organisation.