By taking an independent look at your financial statements, internal controls and compliance processes, we help you stay ahead of regulatory requirements, improve efficiency and achieve your wider business goals.
Expertise
Comprehensive Audit & Assurance
At the heart of our work is a commitment to delivering clarity, confidence and genuine commercial value. We don’t view audit and assurance as a box-ticking exercise, we see it as an opportunity to strengthen governance, improve financial insight and support strategic decision-making.
Our team stays updated on the latest technical developments, providing independent, practical and valuable audit services to businesses across the corporate, charity, education and pension sectors.
With a focus on clear reporting, effective risk management and consistent communication you’ll gain a strategic partner who supports you to make informed decisions that support stability and growth and ensures your business is compliant.
Statutory Financial Audit
A statutory audit provides independent assurance that a company’s financial statements present a true and fair view and comply with UK accounting and legislative requirements. Our audits provide confidence in financial integrity and support informed decisions for future growth.
Statutory Financial Audit
A statutory audit provides independent assurance that a company’s financial statements present a true and fair view and comply with UK accounting and legislative requirements. Our audits provide confidence in financial integrity and support informed decisions for future growth.
We deliver:
A risk-focused review of financial records, internal controls and key transactions
An assessment of compliance with accounting standards and legal requirements
Practical insight and clear recommendations for system improvements
Charities Audit
We provide assurance to stakeholders that the accounts provide a true and fair reflection of the position of the organisation and will provide internal control recommendations to help ensure continuous improvement.
Charities Audit
We provide assurance to stakeholders that the accounts provide a true and fair reflection of the position of the organisation and will provide internal control recommendations to help ensure continuous improvement.
We deliver:
A review of income recognition, restricted funds and reserves management
An assessment of governance, controls and safeguarding of assets
Clear insight and commentary to support trustees in overseeing the charity effectively
Academies Audit
Our specialist team will help ensure compliance with the financial reporting standards and provide reassurance to stakeholders that public resources are being managed appropriately.
Academy Audit
Our specialist team will help ensure compliance with the financial reporting standards and provide reassurance to stakeholders that public resources are being managed appropriately.
We deliver:
An annual statutory audit of financial statements
An Independent regularity report confirming that public funds are used appropriately
Insight on financial controls, governance and risk management
Pension Scheme Audit
We perform independent audits of occupational pension schemes, ensuring compliance with pensions legislation and providing assurance.
Pension Scheme Audit
We perform independent audits of occupational pension schemes, ensuring compliance with pensions legislation and providing assurance.
We deliver:
A review of contributions, benefits, transfers and investment valuations
An assessment of governance, administration controls and regulatory compliance
Close collaboration with actuaries and administrators to understand the valuation of scheme liabilities
Grant Audits
Grant funders often require independent assurance that funding has been used in line with grant conditions and that project outputs have been delivered. We provide grant audits for organisations across research, education, charity and commercial sectors.
Grant Audits
Grant funders often require independent assurance that funding has been used in line with grant conditions and that project outputs have been delivered. We provide grant audits for organisations across research, education, charity and commercial sectors.
We deliver:
A review of grant contracts and eligibility criteria
The verification of expenditure to supporting documentation and an assessment of expenditure eligibility.
Independent assurance reports required by funders to release or finalise funding
We follow a systematic, transparent methodology designed to minimise disruption to your daily operations.
Planning
Understanding your business model and key reporting cycles.
Risk Focus
Identifying areas that require deeper technical scrutiny.
Fieldwork
On-site or remote testing and evidence collection.
Review
Partner-level quality control of all findings.
Reporting
Delivery of final report and management insights.
The Difference
Why choose Parsons for your audit
We combine high-level commercial insight with a relationship-led approach to deliver a modern audit experience.
Relationship-led
Direct access to senior partners who understand your business context.
No Surprises
Clear, continuous communication throughout the entire audit lifecycle.
Insight beyond Compliance
Practical recommendations that improve your operational efficiency.
Deep Sector Experience
Specialist knowledge across manufacturing, tech, and academies.
Modern, Efficient Audit
Leveraging data-driven technology to reduce the burden on your team.
Long-term Partnership
We grow with you, providing consistent support year after year.
Audit Threshold
Who needs an audit in the UK?
In the UK, not every business is legally required to have its accounts audited. However, for many companies, an audit is a powerful way to build trust and demonstrate financial transparency.
Compliance Alert
Following the changes on 6 April 2025
A company must have a statutory audit if it meets two or more of the following criteria for two consecutive accounting periods.
£15m+
Turnover Threshold
Turnover of £15m or more
£7.5m+
Balance Sheet Total
Total assets (referred to as ‘balance sheet total’) of £7.5m or more
50+
Average Workforce
Average employees of 50 or more
Size Threshold Exceptions
Some companies are still required to have an audit, even if they fall below the usual size thresholds.
Shareholders holding at least 10% of the voting rights can request an audit.
A company’s articles of association may state that an audit is required.
The business may form part of a larger group structure.
Certain regulated sectors, including insurance and banking, have mandatory audit requirements.
“At Parsons, we work with businesses across a range of sectors, delivering tailored audit and assurance services that meet the unique need of each industry.”
Choosing the right audit provider is about more than regulatory compliance, it’s an opportunity to partner with a team who supports the success of your organisation.
Our team understands that the audit process can be a challenging time for businesses as they balance regulatory compliance with business-as-usual activities. Our experienced finance professionals pride themselves on delivering a collaborative, transparent process that’s commercially valuable.
A relationship led approach
We invest time in understanding your organisation, your culture and the sector of your business so we can tailor our audit to the risks and challenges that matter the most. Your audit process is never treated as just another engagement.
Clear communication and no surprises
We maintain open and regular communication throughout the audit process, ensuring clarity, efficiency and peace of mind. We pride ourselves on delivering no last-minute surprises or unexplained issues.
Real Insight
Alongside statutory deliverables, our team produces reports for management that focus on meaningful improvements to systems and financial reporting that can be practically implemented. We partner with third parties that provide sector-specific summaries which consider industry trends and upcoming opportunities and challenges.
Deep sector experience
Our team brings experience across statutory audits, charity audits, pension scheme audits and academy audits. We have a deep understanding of the challenges and regulatory pressures specific to each sector.
A modern and efficient audit
We embrace technology and utilise data driven techniques to streamline testing, reduce disruption and produce higher quality audit evidence. Our technology infrastructure means we can perform fully remote, hybrid or on-site audits.
A financial partner you can rely on
We understand that consistency matters. We believe in building long-term relationships, meaning you’ll see familiar faces who really understand your organisation year on year.
In the UK not every business is legally required to have its annual accounts audited but for many companies an audit is a way to build trust and demonstrate financial transparency. Following the changes on 6 April 2025 a company must have a statutory audit if it meets two or more of the following criteria for two consecutive accounting periods:
• Turnover of £15m or more • Total assets (often referred to as ‘balance sheet total’) of £7.5m or more • Average employees of 50 or more
Some companies are still required to have an audit, even if they fall below the usual size thresholds.
What audit services do you provide?
We can support businesses with a range of different types of audits including statutory audit, charity audit, academy audit, pension scheme audit and grant audits.
What’s the difference between audit and assurance?
An audit is an impartial review and analysis of a company’s financial statements, reports and records. Assurance services are broader and evaluate the processes that lead to the financial data.
How long does an audit take?
The length of an audit depends on the size and complexity of an organisation. Our team will work with you to conduct the audit in a timeframe that suits your needs.
PROVEN
RESULTS
Testimonials
Client feedback
PROVEN
RESULTS
“We have engaged Parsons as statutory auditor and are thrilled with their knowledge and professionalism. They have taken time to understand our business and us as individuals and have audited in a way which does not feel onerous and allows us to continue business as usual.”
Victoria McLeod
Director at Royle Recruitment
“I’ve worked with Ian and his team at Parsons for several years. They were instrumental in helping me to negotiate the successful sale of my first business and they continue to give me reliable advice and accountancy for my current business, Prosura.”
Jon Newall
CEO, Prosura Ltd
“York Medical Group have trusted Parsons as our finance and commercial partner for over six years. When the practice scaled up and merged several practices into one and became a Primary Care Network in its own right, we need fit-for-purpose financial systems. We outsourced our Financial Controller, Finance Administrator and strategic financial advice to Parsons…
Zulf Ali
CEO York Medical Group
“We outsourced our finance function because it gave us the flexibility and breadth of financial expertise we needed in the face of very rapid growth. The COVID pandemic saw our contractual income grow from a £2m to a £6.3m within a very short period of time. Our finance needs have changed along the journey and…
Maddy Ruff
CEO at Nimbuscare Ltd
“There was a lot of documentation and complex processes involved with the disposal of the business. I needed the advice of someone who understood what was required to ensure everything was done correctly and with my best interests at heart. Parsons certainly fulfilled that need. We has a very smooth deal which was comparatively swift…
Barry Vale
former owner at Ridings Reprographics
“Parsons have been with us since our first audit in 2023, supporting us as a privately owned SME in the flooring sector through an important milestone for the business. Their approachable, supportive manner made the process feel straightforward and reassuring, and we genuinely enjoy working with a team who are always on hand throughout the…
Helen De La Rue
UK Trade Furnishings Limited
“The team at Parsons York is our first port of call when we need expertise to support key strategic decisions. We know we can rely on Rebecca and Mark to answer a call and provide immediate and sound advice when we need it. Parsons provide high-level strategic insight that complements our in-house finance team and…
Jordan Cook
Managing Director at PolyGlobal Ltd
“The team at Parsons understand my business very well, they truly care about the job they do and the clients they look after. Parsons looks after my tax affairs – previously for the business and my personal tax affairs now that I’ve retired. Having that long-term relationship has been beneficial because there is an existing…
Allan Binns
Former Managing Director at Incom Systems Communication Specialists Ltd
“Parsons have been managing my annual Self Assessment tax return for several years and they are so easy to deal with, I’ve even recommended them to other people. I like working with a local business and it’s important to me that my accountant is established and professional. There’s always someone there to answer any queries…
Nick Stokes
Business Owner at Stokes Creations
“The service from Parsons is very professional and efficient. I can always get hold of an accountant when I need them, they have reliable expertise and a very good understanding of my accounts. I know I can trust them to advise me on everything I need to know and any actions I need to take.…
Tell us a little about your business and we’ll be in touch to discuss your specific requirements.
Experience a partnership built on technical precision and straight-talking advice. Our partners are ready to guide you through the audit process with clarity and confidence.
