Accountant & bank request form

lukegriffen

Is it normal for accountants to request an audit statement from your bank.
I have a 1-employee limited company, v. simple. Previous accountants didn't request this.

Why doesn't the accountant just use the bank statements I provided?
AIB charge €35 or €40 for this, so it seems a complete waste of time & money.
Even if i was doing something sneaky, surely the accountant is just responsible for working off the documents I provided to him.

So I'm just wondering how widespread is this practice ?

Thanks in advance for all replies.

hjr

Is he doing an audit, or is it unaudited accounts?

Immy

Yes very normal for an audit.

ebbsy

Immy wrote: »

Yes very normal for an audit.

Sure is. And if they are not on file for a practice review there could be a problem.

lukegriffen

My company is audit exempt, so this is just part of filing my annual returns / financial report. It's not an actual Rev. Commissioner audit. On the bank statement if I remember rightly the charge appears as Bank Audit fee

marizpan

lukegriffen wrote: »

My company is audit exempt, so this is just part of filing my annual returns / financial report. It's not an actual Rev. Commissioner audit. On the bank statement if I remember rightly the charge appears as Bank Audit fee

An audit and a revenue audit are totally different things.
It is nesscary for comanies that are audited and common place for audit exempt companies.
Totally normal

kennyb3

Audit = required

Audit exempt = best practice

We would do it as standard for audit exempt companies as it can show other bank accounts not disclosed by client (forgotten or assumed personal but in company's name for example), or list letters of guarantee which need to be disclosed in the financial statements.

OP you would have had to sign these letters before they were sent to bank by accountant - so you gave permission for this.

The accountant didn't request it directly - you signed off on it.