Practice Compliance Reviews
A practice compliance review can help you find out how compliant your firm is with the ICAEW’s Practice Assurance scheme, or the ACCA’s Quality Checked scheme, and is the ideal way to find out whether your firm is adhering to best practice procedures, before the monitoring team arrive!
In addition to remaining compliant with Practice Assurance / Quality Checked, best practice procedures can help your practice to run more efficiently, help to cut down on unnecessary time and costs, and therefore improve your profitability.
During a practice compliance review, we’ll review the procedures you have in place throughout your office, and can help you to design systems and controls that minimise your risk exposure, maximise your quality, with the minimum amount of effort on your part.
The review covers:
- The general office systems and procedures
- Audit systems and procedures
- The accounts systems and procedures
- Tax systems and procedures (personal and corporation tax)
- VAT systems and procedures
- Payroll systems and procedures
- Systems and procedures for cash flow forecasts and management accounts
- Financial services systems and procedures
- Insolvency systems and procedures
- Systems and procedures for consulting work
The review will rate your firm against a typically poor, adequate, and excellent control system. You’ll also be provided with a comprehensive report containing recommendations on those controls that should be implemented to reduce your risk to an acceptable level.
Why choose SWAT UK to undertake your practice compliance review?
- Following your review, you’ll be provided with a comprehensive written report within 2 weeks , detailing our findings as well as any action points and/or recommendations arising from the review, at no extra charge.
- During the review, we’ll endeavour to identify ways to help your practice run more efficiently, help to cut down on unnecessary time and costs, and therefore improve your profitability.
- Our in-house team of technical consultants have vast and valuable experience gained from working in practice and visiting many client firms.
How much does a practice compliance review cost?
Prices for our reviews start from just £1170* (outside of London) and £1390* (in London) per on-site day (SWAT UK Full Member firms can enjoy a 10% discount on these rates). As with all of our reviews, you’ll also receive a detailed report following the visit at no extra charge, setting out our findings and any recommended improvements to your procedures.
More information and bookings
For more information on any of our reviews, or to arrange a review, call us today on 0800 2800 433
*Prices quoted exclude VAT and expenses. Prices quoted are for a “standard” visit. The cost of some reviews may be higher. Call us on 0845 450 5555 to discuss your requirements.