Independent Examination

An independent examination is a professional review of an organisation’s financial records and accounts to check they have been properly prepared and comply with relevant UK reporting requirements.

An independent examination provides a limited review of financial records, while an audit involves more detailed testing and offers a formal audit opinion on the financial statements.

Independent examinations are commonly required for eligible charities and certain organisations that are exempt from a statutory audit but must still meet UK reporting requirements.

An independent examination should be performed by a suitably qualified and independent professional with the knowledge and experience needed to review financial records objectively.

An independent examiner reviews accounting records, annual accounts, supporting documentation, and reporting practices to identify any material issues or inconsistencies.

For many eligible charities, an independent examination is required by UK regulations when they are not subject to a full statutory audit but exceed the relevant reporting thresholds.

The timeframe depends on the size and complexity of the organisation, but most independent examinations are completed within a few weeks once all required documents are provided.

Typically, you’ll need annual accounts, accounting records, bank statements, supporting invoices, receipts, payroll information, and any other relevant financial documents.

The cost varies depending on the size of the organisation, the complexity of the accounts, and the scope of the examination. A tailored quote is usually provided after an initial review.

Legend Fusions provides professional independent examination services backed by experienced audit advisory specialists. We deliver practical advice, objective reviews, and tailored support to help organisations meet their reporting and compliance requirements.