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KMP is a leading Chartered Accountancy and Business Advisory firm in Croydon, Surrey. They provide a range of bespoke solutions & specialist advice in areas such as Tax Services, Audit, Financial Planning, Accounts, Corporate Finance, Business Start Ups, Payroll Services, VAT and Bookkeeping. Their audit services for over 200 clients as a part of their suite of services. After using QXAS to support peak time limited company accounts production, our client made a decision to expand their use of QX for payroll and auto-enrolment services.
As an established accounting practice in the Croydon area, KMP has a portfolio of large clients with 60-70 annual audits.
However, with a large group of new clients coming on board within a short duration of time, the overall workload for auditing increased significantly. With over 6-7 audits to be processed each month, along with a variety of daily and monthly assignments & advisory services, KMP was struggling with hiring an audit resource within the timeframe.
Our client spoke about how the main challenge in managing the peak-season audit workload.
“We were struggling to find a member of staff to add to our audit team. We felt that because of COVID-19 we needed to be able to respond quickly to our client’s needs. People needed their audits done quickly.
And to try and recruit anyone with an audit background in the UK – it’s like finding a needle in a haystack.
We took on the entire responsibility, of processing 5-6 audits on a monthly basis, right from initial planning and gathering data to liasing with the audit partner.
Some of the key activities we carried out include:
