An audit isn’t just about meeting regulatory requirements. For fast-growing, venture-backed businesses, it’s an opportunity to gain a deeper understanding of your financial position, build trust with current and future investors, and lay the groundwork for scalable, long-term growth.
As your company matures—whether post-funding, pre-exit, or simply scaling fast—a high-quality audit provides credibility and insight. It reassures stakeholders, uncovers potential pitfalls early on, and sets a strong foundation for responsible growth.
What are the benefits of an audit?
A audit creates clarity, improves governance, strengthens your financial narrative and allows the review of systems and controls that are vital in very fast growing tech businesses.
For founder-led or venture-backed businesses a trusted auditor can help unlock:
- Investor confidence, helping you raise follow-on capital or prepare for exit
- Operational improvements, highlighting inefficiencies and highlighting areas for optimisation
- Risk management, identifying gaps in processes, systems or internal controls
- Better decision-making, through greater confidence in your numbers
- Readiness for scale, building the discipline and structure required to grow sustainably
- Improved corporate governance, with clear control systems to maintain visibility of key areas
Benefits to your investors
Investors look for companies that are not only growing, but growing responsibly. An audit signals that you take compliance seriously, are transparent in your financial reporting, and are prepared for institutional scrutiny. It also simplifies investor due diligence and strengthens your negotiating position for future rounds or exits.
Do I need an audit?
UK businesses are legally required to be audited unless they are considered “small companies”.
For financial years commencing on or after 6 April 2025, in order to be considered “small”, a business must meet at least two of the following three criteria for the past two consecutive years:
| Turnover not more than: | £15m |
| Balance sheet total (i.e total assets) not more than: | £7.5m |
| Monthly average number of employees, not more than: | 50 |
In certain regulated sectors, such as financial services, charities, solicitors etc. an audit may still be legally required. Likewise, a shareholder can deposit a notice under Section 476 of the Companies Act 2006 requiring an audit be carried out.
An audit is also required for subsidiaries of any size of worldwide groups that do not qualify as a small company.
However, many venture-backed companies choose to audit earlier—often after a Series A or B raise, or when gearing up for M&A activity.
You might need (or want) an audit if:
- You exceed the exemption threesholds
- You’re preparing for a funding round or acquisition
- Your investors request one
- You’re implementing more formal financial governance
- You’re part of a wider group that requires group-level reporting
- You want to identify risks and improve internal systems
Whether it’s your first audit or you’re scaling up to a multi-entity group, we’ll guide you through it and minimise disruption along the way.
How we work
We approach each audit with a focus on relevance, clarity, and minimal disruption. Our experienced team, supported by smart audit technology, works closely with you to build an efficient audit process tailored to your stage and structure.
Here’s what our process includes:
UK Statutory Audit Services
Our core audit package covers full compliance under UK Auditing Standards, tailored to the needs of fast-growing, dynamic companies.
We offer:
- Statutory audits for UK entities
- Group audits and collaboration with component auditors
- Acting as component auditors for group reporting
- Delivery of bespoke audit packs and working papers
Other Audit & Assurance Reviews
For companies not yet requiring a full statutory audit—or looking to go deeper into operational effectiveness—we also offer:
- Systems & controls testing
- Internal control reviews, with practical recommendations to strengthen processes
- Due diligence support during acquisitions
- Grant assurance reports, verifying compliance with grant conditions
Let’s talk
If you’re approaching your first audit or want to understand what’s involved, we’re here to help. Whether it’s an informal conversation, a tailored proposal, or guidance on what to expect—we’ll make the process clear, valuable and aligned with your goals.
Our audit services are delivered by Rouse Audit LLP
Rouse Audit LLP is a limited liability partnership registered in England and Wales. Registered number: OC355794. Registered office: 55 Station Road, Beaconsfield, Bucks, HP9 1QL. A list of members can be viewed at the registered office.
Rouse Audit LLP is registered to carry on audit work in the UK by the Institute of Chartered Accountants in England & Wales (ICAEW). Details about our audit registration can be viewed at www.auditregister.org.uk under the reference number C002583100.
We are bound by the following bye-laws, regulations and ethical standards of the ICAEW and those issued by the Financial Reporting Council (FRC): ICAEW Code of Ethics and Audit Regulations, FRC Ethical Standard and International Standards on Auditing (UK)
Get in touch with us
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FAQs
01. Do I need an audit?
You are legally required to carry out an audit if your company exceeds the small business thresholds.
This means that in the past two years you’ve exceeded at least two of the following thresholds:
| Turnover not more than: | £15m |
| Balance sheet total (i.e total assets) not more than: | £7.5m |
| Monthly average number of employees, not more than: | 50 |
Some industry sectors may also be required to carry out an audit, including financial services, solicitors, charities, friendly societies and more.
Additionally, you may need an audit if a shareholder requests it under Section 476 of the Companies Act 2006, or if a lender requires one to approve a loan.
02. What are the main benefits of being audited?
An audit provides assurance to shareholders, investors, lenders, and other stakeholders that your financial statements are accurate and comply with accounting standards. It can also help identify risks, uncover inefficiencies, and strengthen internal controls. For fast-growing companies, audits add credibility and are often a requirement during funding rounds, due diligence, or exit planning.
03. How long does an audit typically take?
The duration of an audit depends on the size and complexity of the business. A typical audit process may take from a minimum several weeks to several months. For small to mid-sized businesses, the fieldwork itself may take a few weeks, with additional time for pre-audit preparation, post-audit reporting, and resolving any identified issues. Early preparation and clear communication with auditors can help streamline the process.
04. What documents and information will m auditors need?
Auditors will typically request access to your financial statements, general ledger, bank statements, invoices, payroll records, tax filings, contracts, and board meeting minutes. They may also conduct interviews with staff and request supporting evidence for any significant transactions. The more organised and accessible your financial data is, the smoother the audit process will be.
As part of our auditing process we make sure to help you set up a data structure that makes the next audit less time and resource intensive.
05. What is the difference between an audit and a review?
An audit is a more thorough and formal process than a financial review. While an audit provides reasonably complete assurance that the financial statements are free from material misstatement, a review provides only limited assurance through analytical procedures and inquiries.
Reviews are often sufficient for internal use or lender requirements, but audits are necessary when statutory or investor requirements apply.
06. Can a voluntary audit be beneficial for a small business?
Yes. Even if not legally required, a voluntary audit can be a strategic tool. It signals financial transparency and rigour to potential investors, partners, or lenders. It can also uncover weaknesses in financial controls, support better decision-making, and prepare the business for future growth, funding rounds, or exit strategies such as a sale or IPO.
07. Will an audit disrupt day-to-day business operations?
A well-planned audit should have minimal impact on your day-to-day operations. Most of the work can be carried out remotely or scheduled around busy periods. That said, audits do require some input from your finance team, especially during the fieldwork phase. Providing clear timelines and ensuring access to records and key personnel will help keep disruptions to a minimum.
08. How can I prepare my business for its first audit?
Start by ensuring your financial records are complete, accurate, and well-organised. Reconcile accounts, review documentation for major transactions, and ensure that internal processes are being followed. It’s also helpful to designate someone within your team to be the main point of contact for the auditors. Engaging with an accountant or advisor before the audit can help anticipate and resolve any issues in advance.
