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Audit & assurance

Increased pressure on the need for reliable financial information has put the spotlight on audit and assurance services.

Mazars understands the true value that thorough and objective audit and assurance services can bring to a company.

Our specialist teams provide a full range of audit, reporting, actuarial, corporate governance, risk management and transaction support services.

Find out more about Mazars' audit and assurance services using the menu on the left.

Audit

Financial reporting advisory

The world of accounting and financial reporting is continually changing and growing ever more complex, particularly with regard to the publication of the Financial Reporting Standards 100, 101 and 102 that are to replace current UK GAAP from 2015.
International Financial Reporting Standards Although most listed and AIM companies have now made the transition to reporting in accordance with IFRS, companies still face the challenge of ongoing compliance and the implementation of new standards, amendments and interpretations that are issued by the IASB.
New UK GAAP The financial reporting and accounting requirements in the UK and the Republic of Ireland have fundamentally changed as a result of the Financial Reporting Council (FRC) issuing the new Financial Reporting Standards FRS 100, FRS 101 and FRS 102. These three new FRSs are to replace current UK GAAP (FRSs, SSAPs and UITFs).
IFRS for Small and Medium-sized Entities (SMEs) The IFRS for SMEs was published by the International Accounting Standards Board in 2009 in order to provide a simplified and self-contained standard to meet the needs and capabilities of international smaller and medium-sized entities that do not operate in capital markets.
Accounting and financial reporting advice With increases in the complexity of accounting and financial reporting standards, recent rises in scrutiny from regulators and enhanced attention from investors, there is an ever-increasing need to ensure financial reporting compliance is met. In addition, many companies encounter accounting issues arising from carrying out complex transactions, achieving business growth and changing organisational and financial structure.
Valuations There is an increasing need for valuations to be carried out as part of the process for determining the fair value of assets and liabilities in companies’ financial statements, particularly intangible assets relating to business combinations and the issuing of share options to employees. These valuations are needed both under IFRS and the new requirements of FRS 102.
Training and seminars Financial reporting continues to become more complex, particularly in relation to IFRS, and this is a trend that doesn’t look likely to reverse. This has become particularly more apparent as a result of the FRC publishing FRS 100, 101 and 102 as the replacement Standards to current UK GAAP. As FRS 102 is based on an international financial reporting framework, the new requirements are fundamentally different to existing UK GAAP.
Narrative reporting In addition to the financial statements, the amount and importance of information in other parts of the annual report has grown substantially in recent years.

Governance & risk

Sound governance is a vital part of every successful organisation. Depending upon the sector in which you operate there may be specific regulatory drivers you must adhere to.
Governance Governance provides an exemplary structure for an organisation to work with. It promotes ethical behaviour, accountability and openness. It encourages economic and financial stability, social and environmental responsibility and ethical investment policies and products.
Risk management Do you have the systems in place to identify threats to your objectives? Risk management has come a long way in the past few years – whether you are putting in place a risk management framework for regulatory reasons or to comply with best practice, the benefit of experience cannot be underestimated.
Business continuity planning Contingency planning is an important part of your overall risk management strategy, regardless of your type of business - all public, private and not for profit organisations face potential risks.
Markets in Financial Instruments Directive (MiFID) The Markets in Financial Instruments Directive (MiFID) will come into effect from 1 November 2007 and will widely affect the investment industry. It replaces and updates the Investment Services Directive (ISD), originally launched in 1995.

Internal controls

Following corporate failures like Enron, Worldcom and Parmalat, there are more UK and international regulations and guidelines to comply with than ever before.
Audit standards (SSAE 16) Organisations providing outsourced services to clients that need Sarbanes-Oxley certification may also need to consider Statement on Auditing Standards SSAE 16 standards. .
Internal audit Internal audit is necessary to review and report on the complex, high-risk areas of an organisation.
Internal audit services At Mazars, we have a wealth of experience of internal audit. We understand that your internal audit will depend on the nature, scale and complexity of your organisation and the range of its operations. At Mazars we do not believe in a ‘one size fits all approach’ - every business is unique.
Internal control of outsourced operations How do you know that your outsourced providers have adequate controls in place over the processes they undertake?
Sarbanes-Oxley (SOX) “The provisions of the Sarbanes-Oxley of 2002 are now well established in the US. This Act has implications for almost everyone associated with US public companies and this includes related companies in Europe. The penalties for violation of sections of this Act include fines reaching into millions of dollars and imprisonment. In contrast to the ‘comply or explain’ approach of the Combined Code, Sarbanes-Oxley adopts a ‘comply or else’ line.” Craig Scarr, UK Head of Insurance.
The UK corporate governance code “We recommend that companies should wholeheartedly adopt the spirit of the new Code, take control of the situation and reap its benefits.” Craig Scarr, Partner, UK Head of Insurance.
The Bribery Act – made simple At Mazars, we understand the importance of providing practical solutions to the Bribery Act.

Monitoring Trustee

Technology & systems assurance

Transaction services

Whether you are looking to grow organically or by acquisition, IPO on a stock exchange, or divest parts of your business, we are able to provide you with a wide range of transaction related services that add real value.
Due diligence Ensuring an acquisition or disposal is completed successfully and at the right price is often a crucial component of an organisation’s development.
Post deal transformation When successfully executed, business integrations and separations can generate material growth, cost synergies and savings for organisations. However, disappointingly over 50% of integrations fail to meet their stated targets, while separations rarely achieve the intended goal.
IPO Support Services Our team has considerable experience in advising companies on stock exchange IPOs around the world including, AIM, PLUS Markets and the Main Market of the London Stock Exchange in the UK. We have the skills and experience to make the process effective and efficient, and be completed within tight deadlines.
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David Herbinet
+44 (0)20 7063 4419
David Herbinet UK Head of PIE - London Send a message Detailed profile Linkedin profile

Related content

Seizing the chance to change (English)

Seizing the chance to change

This is Mazars' response to the interim report of the Market Participants Group "Choice in the UK Audit Market". The group was convened by the Financial Reporting Council to advise on the risks arising from the high level of concentration in the market for audit services to UK public interest entities.

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