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Certified or Audited Accounts

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  • 19-02-2013 10:22am
    #1
    Jamesw2
    Closed Accounts Posts: 137 ✭✭


    Good morning all

    My sister has been offered a loan with BOI.
    She runs a small business.
    I do her accounts/bookkeeping for the past 3 years. I'm part qual ACA.
    BOI need certified accounts.
    What exactly is this.?
    Will my accounts suffice?


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    #2
    Trend Setter in Training
    Registered Users Posts: 302 ✭✭Trend Setter in Training


    Jamesw2 wrote: »
    Good morning all

    My sister has been offered a loan with BOI.
    She runs a small business.
    I do her accounts/bookkeeping for the past 3 years. I'm part qual ACA.
    BOI need certified accounts.
    What exactly is this.?
    Will my accounts suffice?

    Assume she is a sole trade based on the above info.

    Usually banks want accounts certified (ie accountants report ect) by a qualified accountant to provide some reliance on the numbers.

    I would submit accounts you have prepared to date but bank may come back looking for certified accounts at which stage your sister will have to engage a qualified accountant.

    Assuming you work for a practice might be an opportunity for you to suggest to your manager / partner to act for her.


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