The primary purpose of the statutory audit is to provide an independent opinion on your annual financial statements. It is viewed as an unnecessary burden – but undertaking an audit can often lead to significant benefits for a business if approached in the right way

Statutory accounts production is the cornerstone of compliance services at B.J Dennehy. We pride themselves on our strong understanding of the fundamentals of accountancy and our ability to convert this understanding into the efficient delivery of high quality accounts.

Increased audit exemption thresholds mean that an increased number of Irish companies are in a position to file statutory accounts instead of audited accounts with the Companies Registration Office. The generation of statutory accounts is a core element of our service offering to our corporate clients.

Here are just a few ways we can add value through the statutory accounts process:

• Efficiency

  We assist and advise companies in keeping books and records and consequently we can extract the correct information quickly from our clients with minimal interference to their business operations.

• Analysis

  The preparation of statutory accounts enables us to generate key performance indicators. This enables us to see beyond the figures and comment on key areas such as turnover, profit margin trends, cost control and cashflow management. Business owners gain better understanding and insights of their business, and consequently, better manage their business.

• Technical Expertise

  The business environment and transactions have become increasingly complex and diverse. We have a depth of expertise that crosses many different business sectors, and this provides us with the technical expertise to apply Generally Accepted Accounting Principles to your transactions, no matter how complex.

Running your business today is challenging. There are often competing demands for your time and energy, more time needed to ensure compliance with regulations means less time to devote to key actions. Outsourcing your non-core financial and payroll functions will allow you and your staff to concentrate on what is important to the business rather than compliance and administrative functions.

We provide a range of services, whether you need to establish a new company, manage your bookkeeping, design and implement new financial processes or comply with complex and ever changing tax legislation – we will structure a solution to fulfil your requirements. We offer a high quality service, irrespective of your location. We favour outsourcing solutions which allow the option to upscale as you grow the business.

Company law has placed increased responsibilities on company directors. We guide many clients in this area. Companies Registration Office returns must be filed annually. Failure to do so can result in penalties and/or prosecution for directors. We provide registered offices and a company secretary should clients require this.

BJ Dennehy & Company provides a comprehensive and efficient audit service to businesses. Auditing is multi-disciplined and can have a wide range of functions. Our audit services include the following:

1. Statutory Audit

   We provide a thorough and comprehensive auditing service through the statutory audit.
   The annual statutory audit is a requirement for all limited companies that meet certain size criteria under the Irish Companies Acts. We provide auditing services that go beyond basic legal and technical obligations and the routine tasks set down in a typical audit assignment. We believe that the audit provides vital insights into the operation and control of your business.
   Our approach consists of the following stages:

   1. Audit Planning
   2. Audit Fieldwork
   3. Audit completion – Coordination and timing
   4. Communication
   5. Delivery and sign off

   Our audit tests ensure that your business is aware of all the rules and regulations under current legislation. Our audit plan is designed to enable us to respond to shareholders and management concerns and to identify risk areas and improve controls. By doing so, we can identify opportunities to improve profit and cash-flow performance and help clients safeguard their business assets.

2. Financial Due Diligence

   Any organisation considering a deal needs to check all the assumptions it is making about that deal. Our financial due diligence provides peace of mind to both corporate and financial buyers, by analysing and validating all the financial, commercial, operational and strategic assumptions being made.

   How we can support you:

   • We can enhance the purchaser’s understanding of the target business and therefore increasing the likelihood of the deal achieving its objectives.
   • We can help you identify and understand critical success factors and therefore improve your understanding of all the relevant issues so that informed decisions can be made.
   • We can highlight strengths that can be built upon or weaknesses that can be resolved.

3. Systems & Control Review

   We regularly provide Systems & Controls review services to our clients.

   How we can support you:

   • We can make an independent assessment of our client’s accounting systems, controls and procedures.
   • We will report on the strengths and weaknesses of their current accounting systems.
   • We will provide detailed recommendations for improvement of their accounting systems.

4. Property Management Companies

   We have extensive experience in the provision of property management audit services to commercial, industrial and residential property management companies.

   Our unique approach consists of the following:

   • Our property management audit is tailored for each client based on our understanding of the services provider’s requirements and the key risk attributable to the property management company.
   • During each assignment we liaise with all relevant parties to ensure an independent efficient and cost effective service.
   • An expenditure certificate, year-end audit, corporation tax submission and secretarial returns are produced for an all-inclusive pre-quoted cost.

   We have vast experience in the provision of high quality auditing and accounting services in relation to expenditure certificates and year end accounts. B.J. Dennehy & Company deal with most of the main property management service providers in Ireland and provide audit, non-audit and taxation services to suit each company’s needs.