Service 01 / 05
Accounting and Audit
As Chartered Accountants Ireland members and Registered Auditors, we offer a broad range of services to ensure you comply with your legal reporting obligations, and to enhance the performance of your business by delivering relevant and timely information.
Accounting and financial reporting
Annual accounts prepared and explained
Whether a limited company, sole trader or partnership, Gaffney Murphy Accountants specialise in the preparation of annual accounts. Our aim is to support every aspect of the business by providing high quality, reliable advice through our extensive knowledge base and technical expertise.
Our pro-active and flexible approach means we can tailor our services to meet your particular needs. We will identify opportunities and areas for improvement, and help you to understand your financial accounts.
What we do
- Preparation of annual financial statements
- Preparation of financial forecasts, budgets and cash flow forecasting
- Preparation of KPI indicator reports
- Guidance and assistance with the application of PAYE, VAT and RCT
As part of the annual accounts process
- Prepare and submit all company returns and documents as a standard part of our annual accounts work with the CRO
- Review the accounts relative to your needs, and analyse where the business can improve its systems to become more profitable
- Issue a closing pack with the relevant information required for a financial application
- Offer tax advisory work to mitigate your tax liability and plan for future tax savings
- Provide a comprehensive company secretarial and corporate compliance service covering the Companies Act, the Revenue Commissioners and the Director of Corporate Enforcement
Ancillary services that assist with daily business operations, discussed in full on our business advisory page, include outsourced business services, payroll, strategic and financial planning, internal control review, forensic accounting and due diligence reviews.
Audit and assurance
An audit that adds something back to the business
To comply with Company Law, there is a statutory requirement for an annual audit to be undertaken by certain companies and other bodies. As it is a statutory requirement, it can be viewed by some as a necessary evil that does not add value. Our audit services go beyond basic legal and technical obligations and the routine tasks set down in a typical audit assignment.
We consider our audit and assurance service to be an opportunity to do more for you: a chance to proactively consider matters such as financial and management structures, information and communication systems, strategic business planning and tax planning. Our approach follows the International Standards on Auditing (UK and Ireland).
Our areas of focus
- Internal audit
- Limited company audit
- Unlimited company audit
- Regulated entity audit (solicitors, auctioneers and similar)
- Charitable organisation audit
Our audit principal and senior staff have both the knowledge and the expertise to deliver an efficient, compliant audit that causes minimum disruption to the day-to-day running of your business. On completion of our engagement we issue a review and assessment of the weaknesses observed during the process and outline procedures for improvement. These recommendations are highly valuable because they are based on an in-depth analysis and understanding of the finances of the organisation.
Group financial accounting
Groups, wherever they are based
At Gaffney Murphy, we act for a number of organisations and groups that are located locally, nationally and internationally. We have the expertise in preparing consolidated accounts and reports for organisations and multinational groups. We ensure that these accounts are prepared in full compliance with all regulatory requirements, and annual reports are issued on completion of the engagement.
Key services
- Accounting system review
- Budgeting
- CRO compliance
- Financial statements
- International business
- Statutory audits: charitable organisation, group, internal, regulated entity, statutory
- Taxation advice
Accounting and audit questions
What clients ask before we start
What is included in your annual accounts service?
We prepare the annual financial statements and, as standard, prepare and submit all company returns and documents for the CRO. We also prepare financial forecasts, budgets and cash flow forecasts, KPI indicator reports, and issue a closing pack with the information required for a financial application.
Which companies need a statutory audit?
Company Law requires certain companies and other bodies to have an annual audit. Our areas of focus include internal audit, limited company audit, unlimited company audit, regulated entity audit for solicitors, auctioneers and similar, and charitable organisation audit. We will confirm which applies to your company before the year end.
Do the accounts include tax advice as well?
Yes. As part of the annual accounts process we offer tax advisory work to mitigate the client's tax liability and to plan for future tax savings, so the accounts and the tax position are reviewed together.
Do you prepare consolidated accounts for groups?
We act for a number of organisations and groups located locally, nationally and internationally, and we have the expertise to prepare consolidated accounts and reports. Accounts are prepared in full compliance with all regulatory requirements, with annual reports issued on completion of the engagement.
Next step
Send us last year's accounts and we will tell you what we see
A short review of your existing figures is usually enough to show where the reporting could be clearer, or where the business is carrying avoidable cost.
Talk to our team