Account Audit - Estimated cost

[paulmiddle]

Hi All,

I hope somebody may be able to give me a clue as to whether a quote I've had is a good price...

My business turnover has just exceeded the audit exemption limit, and our regular accountant isn't qualified to audit.

He has done all of the usual work and and has spoken to one of his friends who has quoted £2750-£3000 for an audit to completed.

The business is recruitment and the exact turnover is £5.8m.

Does anyone have any knowledge as to whether this is a good price, or is it difficult to estimate without further info?

Many Thanks.

Paul.

[percy flage]

How often do you do business on the basis of one quote?

I'd say the price looks reasonable, but I now nothing about your business r how much work would be entailed.

ETA a k to "now" and an o or "r", perleeze.

Edited by percy flage on Wednesday 25th April 14:56

[Eric Mc]

I would say that the "Audit" element of the work carried out by an accountant would probably add on at least 1/3 more to what you have already been paying.

It will vary from firm to firm though.

[paulmiddle]

percy flage said:

ETA a k to "now" and an o or "r", perleeze.

Edited by percy flage on Wednesday 25th April 14:56

Hi Percy, we never do business on one quote and that's why I thought I'd ask you guys while shopping around as well.

Sorry but i don't understand what you mean by the above?

Cheers Paul.

[paulmiddle]

Eric Mc said:

I would say that the "Audit" element of the work carried out by an accountant would probably add on at least 1/3 more to what you have already been paying.

It will vary from firm to firm though.

Cheers Eric, gives me a guide, never had to audit before so the costs are new to me.
Thanks.