There was a time when audits were solely about compliance – an exercise designed to satisfy regulators. Today, that mindset is changing.
More business leaders are choosing auditors that don’t just confirm the numbers, but actively help shape the future of their business. Because a modern audit isn’t about paperwork – it’s about insight.
A high-quality audit uncovers what’s really driving your performance. It highlights risk before it becomes a problem. And it gives you the clarity to make better strategic decisions.
At Champion, we see auditing as a growth tool. Our approach is designed to help small and medium-sized businesses understand where they are, where they’re going, and what needs to change to get there.
Our three-stage approach to audits
Stage one: Audit planning
Everything starts with understanding you.
We begin with in-depth conversations to learn how your business really works – your operations, ambitions, challenges and growth plans.
From there, we create a bespoke Audit Planning Memorandum (APM). This sets out:
- The approach we’ll take
- The areas that matter most to you
- Any potential risks, and how we’ll manage them
- Relevant sector and regulatory updates
The APM is shared with senior management and the Board before the audit begins, giving everyone the chance to review, challenge and refine the approach.
This ensures the audit is aligned with your priorities from day one.
Stage two: Analysis
As a long-established Group with deep experience across the North West, Champion is known for audits that deliver real insight, not just numbers.
During this stage, our team:
- Identifies and tests key systems and controls
- Carries out detailed testing to ensure balances are not materially misstated
- Adapts dynamically if new risks or information emerge
We keep your goals front of mind throughout. The result is a 360-degree view of your financial position – giving you clarity on current performance and future potential.
We don’t take figures at face value. Our interrogative mindset means we challenge, test and validate, so your audit is robust, accurate and meaningful.
Stage three: Audit completion
Once the audit is complete, you’ll receive an Audit Summary Memorandum (ASM).
This provides:
- A clear overview of the audit outcome
- Best-practice observations
- Recommendations around risk, control and governance
- Management letter points
It’s delivered in a clear, accessible format and discussed with senior management and the Board.
And our support doesn’t stop there. If you need help implementing changes, improving controls or adjusting processes, we’re there to guide you.
Expect more from your auditor
SMEs often feel like smaller players watching premium services go to bigger businesses. At Champion, we specialise in supporting SMEs, including those scaling fast, growing steadily, or simply aiming to strengthen their foundations.
We carry out thorough testing and pressure-testing to identify gaps that could hold you back.
We often see businesses that have grown quickly – organically or through acquisition – but whose systems haven’t kept up. Controls that once worked can suddenly become too small for the business, increasing risk.
That might show up in:
- Payroll capacity
- Finance team structure
- Training and development
- Systems and processes
And when financial systems are stretched, operational and management risks often follow.
Your audit should tell you whether your controls match your current scale, and whether they’re strong enough for where you’re heading next.
An informed source of advice
As businesses grow, internal teams are often stretched across multiple financial responsibilities – from payroll and cashflow to budgeting and forecasting.
When people are spread too thin, quality suffers. Skills gaps appear. And regulatory changes become harder to keep up with.
Champion supports businesses by:
- Advising on financial team structure
- Recommending training and upskilling
- Helping teams adopt modern accounting systems
- Keeping you aligned with changing UK regulations
It’s all part of our wider commitment to helping SMEs grow with confidence.
Turn your audit into a growth tool
Your audit shouldn’t just tell you where you’ve been. It should help you decide where you’re going.
If you’re ready to move beyond box-ticking and turn your audit into a strategic asset, we’d love to talk.
Speak to Champion’s audit experts today and discover what a modern audit can really do for your business – visit: https://www.championgroup.co.uk/services/compliance/audit/
