For companies that require an audit of their annual financial statements, we can act as a Registered Auditor. This is a heavily regulated area that does require significant compliance, much of which does impact on the time we spend on a company's file. We are authorised by the Institute of Chartered Accountants of Scotland for this work. In many cases the audit work is combined with the preparation of the annual financial statements. We do attempt to use the time we spend on company files to allow us to advise clients for the future in areas such as record keeping, tax compliance and business development.