The client was delighted to have accurate financial information on a departmental basis and more stringent controls over income and expenditure, meaning there has been no repeat of the loss of revenue. Furthermore we have helped the client make significant cost savings amounting to over £10,000 per annum through the analysis of data from the new system, and as a sage reseller were even able to procure the software at a discounted rate.
Proactive audit and assurance service
An existing company, a UK subsidiary of an international group, engaged CRM to provide accountancy and audit services.
In the two years of the engagement to date, CRM identified, as part of our client focussed audit and assurance services, significant items to the benefit of the company. Specifically these were a VAT reclaim of over £8,500 which would otherwise have gone unnoticed, and also an otherwise unidentified claim on their landlord which was not being paid which amounts to over £27,000 plus further sums ongoing.
These amounts are significantly in excess of audit fees charged, so the client has actually made a substantial profit from both years’ audits.
Clearly the identification of these sums has both improved cashflow and strengthened the balance sheet of the company.
