Preparation and audit have different roles
Accounting support brings records and financial statements into order. An independent statutory auditor evaluates the financial statements and performs the procedures needed to issue an audit opinion.
Common preparation work
- Final trial balance and reconciliations.
- Receivables, payables, assets and financing schedules.
- Supporting invoices, agreements and approval evidence.
- Identification of missing records and unresolved balances.
- Coordination of responses to auditor questions.
Agree the engagements separately
Confirm the accountant’s preparation scope and the auditor’s appointment, fee and responsibilities. The auditor independently determines its work and the resulting opinion.
Published 13 October 2026. General process guidance.