Costs of Extermal Auditors



Those Audit fees do seem excessive. I work for a large organisation with over £1bn turnover and £500m assets and our audit fee is only approx £80k
 
Fletch said:
Anyone have dealings with External auditors coming into work (mainly the big audit companies ).
I would class us as a small-medium size co , profit bout 300 k pa but only handful of staff , the auditors we use have quoted £29k to do next years audit (and£5k to calculate our corporation tax ).
Are we getting out pants pulled down or is that the norm .
Ideally we only want our accounts audited not all the systems etc etc .
Interested if any other posters deal with the big auditing companies
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That's a batshit mental fee. I'd expect more like £10k - £15k including tax for a company that size.

I wouldn't use the big 4 unless I was a multinational group. And even then I don't see why they are worth the premium (and I used to work for one of them).

I also wouldn't get an audit unless I was over the threshold or a shareholder was insisting on it.

In the North East, I'd recommend UNW over the others mentioned.
 
@Fletch I am a partner in a small firm based in Gateshead who still carry out audits (I am ex Big 4). I can give a few names and contacts with other firms if you want. Happy to chat.
 
Fletch said:
Aye they are one of the big 4
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That’ll explain it then - try a smaller firm.

I did my training with a large (but not big 4) firm, then moved to a small firm when I qualified. My trainee charge out rate at the firm I trained at was higher than the partner charge out rate at the smaller firm!
 
Fletch said:
Ahybody recommend a north east company who do full external audits on the annual accounts and do corporation tax calcs and advice ?
Not the big4 as too expensive but also not some bloke in his home office on own.
Cheers
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Torgersons in Sunderland big enough but small enough if you get where I'm coming from.
 

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