Non-statutory audit: why?
A non-statutory, i.e. voluntary, audit provides assurance about the true and fair view of the financial statements. It puts you in a stronger position when you render account to the public.
Having your financial statements audited potentially offers great added value – even for companies that are not under a statutory obligation. A non-statutory audit is one that is voluntary. A company might voluntarily decide on an audit for a variety of reasons. For example, the directors might wish to show that the business is ‘in control’, or an audit might be demanded by the supervisory board or external shareholders. Another benefit of an independent auditor’s opinion is the potential added value when you apply for a loan or a grant, or when you sell your company.