A statutory audit is more than a regulatory requirement, it’s an opportunity to gain insight, strengthen controls, and build trust with stakeholders. At Prydis, we deliver robust and commercially focused audit services for companies that meet the statutory audit threshold or choose to undergo a voluntary audit.
Whether you’re an owner-managed business, multi-entity group, or preparing for sale or investment, we provide clear, independent assurance tailored to your size, structure, and sector.
What is a Statutory Audit?
A statutory audit is a formal, independent review of your annual financial statements, required for companies that exceed certain thresholds in revenue, assets, or employees. It’s designed to ensure your financial reporting is accurate, compliant, and fairly reflects your business’s financial position.
Even if you’re below the threshold, a voluntary audit can bring significant benefits, especially when:
Preparing for funding, acquisition, or sale
Managing complex group structures
Seeking to strengthen governance or board oversight
Working with external investors or lenders
Our Statutory Audit Services
We carry out statutory audits in accordance with the UK auditing standards (ISAs UK), providing clear, objective assurance and helpful recommendations.
Our services include:
Annual Statutory Audits
Comprehensive audits for companies and groups above the statutory threshold or requiring audit due to external obligations
Voluntary Audits
Independent assurance for businesses that choose to undertake an audit for governance, lender, or investor purposes
Audit Preparation & Support
Guidance to help you get audit-ready, including pre-audit reconciliations and internal control reviews
Group Audit & Consolidations
Coordinated audit work for multi-entity or international group structures
Special Purpose Audit Assignments
Including audits for regulatory compliance, grants, or covenant reporting
Audit for Charities and Not-for-Profits
Independent reviews for organisations requiring SORP-compliant financial statements
Why Clients Choose Prydis for Audit
ICAEW-Registered Auditors – Fully compliant with the latest UK auditing standards
Independent & Objective – We take our assurance role seriously, maintaining rigour and impartiality throughout
Efficient, Low-Disruption Process – Structured planning and proactive communication to minimise business interruption
Constructive Insights – More than a compliance exercise, we provide practical observations to improve systems and controls
Sector Understanding – Experience across industries including professional services, property, construction, and group structures
Who Needs a Statutory Audit?
A company qualifies as small (and can claim audit exemption under s477 CA 2006) if it meets at least two of the following three criteria for two consecutive financial years:
Annual turnover exceeds £15 million
Total assets exceed £7.5 million
More than 50 employees
Certain companies, such as those in regulated sectors or with complex shareholders, may also require an audit regardless of size.
Supporting Owner-Managed & Growing Businesses
Our audit clients include:
Owner-managed companies and family businesses
Growing SMEs nearing the audit threshold
Groups preparing for funding, acquisition, or exit
Companies with bank covenants or external investor requirements
Charities and not-for-profit organisations
We approach every audit with professionalism, independence, and a commercial mindset.
Work with a Trusted Statutory Auditor
Whether you’re approaching the audit threshold or want to enhance your reporting with voluntary assurance, Prydis is here to help. We combine audit rigour with practical insight, so you meet your obligations and gain added value from the process.
Our Statutory Audit Team
Our Statutory Audit team at Prydis brings together deep technical expertise and a practical understanding of business operations. As ICAEW-registered auditors, we deliver rigorous, independent audits that go beyond compliance, providing assurance, uncovering insights, and supporting sound governance. Whether you’re preparing for your first audit, managing group accounts, or looking to improve internal controls, our team works closely with you to ensure the process is smooth, efficient, and adds real value to your organisation.
Get in Touch
Our professional and expert team can help you with will of your statutory auditing needs. If you’re Based in Devon, Cornwall, or anywhere across the South West, we’re here to help! Get in touch today:
Call us – 01392 432431
Get In Touch
Contact our team to get expert support for:
Get in touch to see how we can help.
Call us – 01392 432431
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