Financial Audit: What is our “Financial MOT”
Using our deep experience of many SMEs in a wide variety of industries, we will independently review your financial systems and processes to determine ways to improve cash-flow and profits or raise finance. Our financial audit helps create an accurate picture of your business finances, and will help expose problems and inefficiencies.
How our Financial Audit works
- We conduct an initial telephone interview to get an overview of your business (size, description, location and age of business plus existing accounting arrangements)
- You send us basic information (full annual accounts, latest management accounts plus business plan if you have one)
- We analyse this off-line
- We meet you (and key staff) at your offices to undertake further analysis
- We report to you the findings of our financial audit
What does our financial audit cost?
- You pay only £350
- This is less than half the cost of our work (our marketing budget pays the rest)
- If you later engage with us, for longer term financial support, the £350 is fully refundable
Alpha Financials Special Financial Audit Offer – Financial Performance and Funding Review
Objectives
Independent review of client’s financial performance and identification of best way to raise finance
Background Information to gather up-front
Description of business, location, how long it has existed (must be >= 3 years)
Business turnover (must be >£0.5m pa)
Funding Advice
– How much do you think you need
– Why it’s needed
– Which funders have been approached
– What their responses were
AF Approach
All work undertaken by experienced and qualified Finance Director
On-site and off-line review of financial performance
Develop simple cashflow forecast for the whole business showing:
a) Funding shortfall
b) Funding duration
c) Ability to repay
If this looks ok, develop a few broad options:
a) Bank loan
b) Bank overdraft
c) Speciality funder/Asset finance
d) P2P
For each, estimate likely cost, advantages and disadvantages.
Agree best approach with client.
Client Deliverables
- Payment of £500 fee (refundable)
- Key staff made available for on-site interviews on agreed date
- Up-front provision of last 2 sets of full annual accounts (ie P&L as well as B/S)
- Up-front provision of latest management accounts
Alpha Deliverables
- Future cashflow forecast to support funding application
- Feedback on financial performance
- Recommended approach for funding
