We’ve covered the main book-keeping and accounting tasks, and this final chapter looks at what you need to do if and when the accounts of your business are subject to inspection by external person(s). From what you have learned, you should be well on the way to ensuring that the work you’ve done is of a reasonable standard.
In general, the accounting records of a business will be checked at least annually by an accountant or auditor. If a business is a sole trader, then it is possible that an accountant prepares the financial statements at year-end only. This may also be the case for smaller companies, whereas larger companies will most probably ...
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