Other Assurance

Assurance services arise when an individual or group of individuals want to take comfort over the accuracy or legitimacy of information prepared by another party.

There are many different circumstances where someone may decide that they require assurance on a subject matter, other than for audit purposes. Some common examples of this are included below.

By engaging MFW on these matters, you have the confidence that any assurance work is conducted by our fully trained audit teams.

Shareholder assurance on company accounts

There are often shareholders, who aren’t involved in the day to day running of the business, who may desire some element of assurance over the accounts even though the entity is audit exempt. An assurance engagement enables specific terms to be agreed for the engagement, meaning that the shareholder obtains comfort over the areas that matter to them, without incurring costs for areas that they aren’t interested in. As the scope of the work is determined between the parties, this can be tailored specifically to your needs.

Seeking finance

If you intend on seeking significant finance for your business then lenders may be more receptive to, or specifically request, a form of assurance over your accounts or financial forecasts. Again, we will specifically tailor the agreed scope of work to your requirements, to ensure that you only pay for level of assurance required.

Review of contracts

Contractual agreements may be drafted with significant bias towards the preparer. An independent review of the creditability and impact of documentation supplied by customers, suppliers or lenders can often be extremely beneficial to your business or protect you from unanticipated consequences. These assurance engagements are often referred to as value for money reviews.