Year-end accounts and annual reports – what should the engagement include?
Two offers for year-end support may cover very different amounts of work. Compare the records each provider assumes, the assessments included and what the business must do itself.
Start with the business and financial year
Legal form, activities, group relationships and financial year affect what needs to be examined. BFN publishes different frameworks and versions with different application dates. Ask the consultant to explain the framework used and the questions that must be resolved before fees and timing can be confirmed.
Describe the condition of the records
Is the bank reconciled? Are open items, inventory records and information on loans, assets or related-party transactions available? An engagement starting with reconciled records differs from one requiring prior periods to be investigated. Disclose known gaps early so corrections can be planned rather than discovered at final delivery.
Distinguish the deliverables
Agree whether year-end work, any annual report, tax return and auditor coordination are included or commissioned separately. Define who reviews assessments, arranges signatures and manages filing. A completed document, approved content and successful filing are different stages that need clear owners.
Compare fees for the same scope
Ask for pricing assumptions, possible extras and how you will be informed if work expands. Allow time for client questions and missing information. Stämkoll can review the available records and discuss a defined engagement. A generic standard price cannot replace an assessment where the business or its accounting is more complex.
Discuss your needs
Agree the scope, expertise and responsibilities before an engagement begins.
Let’s talk about your business.
Tell us what you need help with, and we will discuss a suitable approach.
Sources and scope
General information, not an assessment of an individual engagement. The choice of roles and working methods is editorial guidance.