As the dust settles on the UK’s departure from the EU and the government looks to showcase that Britain is “open for business”, Ryecroft Glenton (RG) is seeing an increase in investment and market transactions in privately owned businesses.
Regional initiatives such as the North East Local Enterprise Partnership and the North of Tyne Growth Fund are providing significant opportunities for local businesses to obtain investment.
In the past 12 months, RG’s Audit & Assurance service line has advised a number of clients on preparing for investment by providing both statutory and non-statutory audit services, as well as supplementary due diligence services.
RG’s core audit service provides an independent, professional verification of a business’ financial statements. This can enhance the credibility of the business in the eyes of a lender or investor and can also provide a reliable foundation for business owners to make informed decisions for the future.
An audit also incorporates an assessment of the accounting systems and controls in place within the business. This enables any deficiencies in operational or financial processes to be identified, enabling management to plug any gaps before they are highlighted by a lender or investor’s financial due diligence.
As well as providing core audit services, the RG audit team has also collaborated with RG’s award-winning Corporate Finance division (RGCF) to provide transactional support to clients in the form of financial due diligence services, often following a Strategic Review performed by RGCF.
This holistic approach enables the audit team to see both sides of an investment transaction, providing invaluable experience which further improves the efficiency of the audit process.
If you’d like to discuss any of the above further please contact our head of Audit & Assurance, Grahame Maughan.