What are the benefits of changing my auditor?
Why would I want to switch my auditor?
There are many reasons why you may want to switch auditors:
It can be difficult to make the break, especially if you have developed a strong relationship with your auditor over the years. This in itself can be a reason to make the change – a new firm can inject fresh energy into a company and improve the robustness of the audit. Risk areas are reassessed, and different questions are asked of the management team, as the new advisors get to grips with your company.
Growth may also be a deciding factor. What worked for you as a young company may not be the right fit for you now. You may now need an auditor with more industry experience, for example.
Range of services
Assessing the balance between non-audit and audit services should be high priority if considering making the leap. Mitchell Charlesworth are a ‘one stop shop’ when it comes to audit, tax and advisory services.
Since the introduction of the EU Audit Reform on 17 June 2016, credit institutions, public interest entities, and larger companies may be required to re-tender for audit every 10 years, and change auditor at least every 20 years. Please contact us for further information regarding this requirement.
We understand that the prospect of choosing a new advisor can be daunting, but remember - a fresh pair of eyes could bring a new impetus to your business.
For further information contact the team to the right of this page.
We have a variety of audit resources which can be found below: