Dale Power Solutions
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- Award-winning power suppliers.
- Sought auditors and corporation tax compliance.
- Needed seamless interaction across multiple services.
GENERATING A RELATIONSHIP
The Scarborough-based power suppliers Dale Power Solutions began in 1935. Since their foundation, Dale has garnered accolades including the Princess Royal Training Awards in 2016. That same year, they became the largest service dealer for critical power solutions in the UK.
Today, they offer 24/7 round-the-clock protection and emergency call outs through a UK-wide team of 80 dedicated service managers. Thanks to its size, Dale offers a large range of industrial and commercial power supply products, that are used by many industries. They also provide complete asset life-cycle management with service and maintenance support for generators and UPS.
Dale were looking for a company to conduct an audit, plus corporation tax compliance, but cost and value for money weren’t the only factors. They also needed:
- Efficient service and minimum disruption.
- A proactive service, led by a dedicated Director and supported by specialist team members.
- Seamless interaction across different services, including audit and tax, plus a broad range of compliance and advisory services.
- Access to feedback and a sounding board that delivers a more proactive basis for the discussion of business opportunities and options.
We were able to offer thought-provoking, no-nonsense advice and support. And unlike competitors, we promised delivery through structured line expertise, co-ordinated by a dedicated relationship lead, who was also available as additional support for the team at Dale.
HOW WE CONDUCT AUDITS
We discussed our auditing style with Dale Power Solutions, which we divided into six areas.
- We pride ourselves on providing a high-quality service through a flexible, pragmatic and approachable style.
- We deploy the cloud-based software Inflo®. This application helps us to securely transfer information and maintain communication during the auditing process. It also enables us to operate a combination of office-based and remote auditing, which we can tailor to fit both parties.
- We don’t like to spring unwelcome surprises or keep secrets during the auditing process. We prefer to be upfront and honest and address any reported matters in a timely manner.
- We always seek a complete understanding of businesses to make sure we can identify and address any audit matters appropriately. By learning about you, we can know what potential opportunities to alert you to.
- We maintain a register of recommendations that we think you might find useful, and we’ll report these to you.
- Our Director-led approach helps us maintain continuity within the team to ensure the knowledge we accumulate over time is retained and this adds to our wealth of knowledge for future projects.
- We come to an agreement with businesses at the outset, to provide an efficient and fully focused period in which both parties can meet the requirements of the audit.
- We’re experts in our fields, but we never stop learning. We actively seek ways we can improve the quality of our team and the service we provide. Feedback is important to us.
OUR AUDIT STAGES
We provided our audit for Dale through four stages.
- Determining the strategy and identifying any accounting issues.
- Risk assessment procedures and risk identification.
- An audit planning meeting with the list of deliverables supplied.
CONTROLS AND INFORMATION
- Understanding accounting and reporting activities.
- Evaluating the design and implementation of controls.
- Ensuring our understanding is in line with the current and future strategy of Dale Power Solutions.
TESTING AND ADJUSTMENT
- Planning substantive testing procedures.
- Performing testing in line with planned processes and ensuring risks receive sufficient focus.
- Consideration of whether audit evidence is sufficient and appropriate.
COMPLETION AND REPORTING
- Performance of completion procedures.
- Overall evaluation of final statements and disclosures.
- Reporting to management with our key findings.
We proposed to absorb the first-year, non-recurring costs to set-up the engagement and build our knowledge of Dale, as a reflection of our hope to work with them, long-term. Our fee:
- Was based on the trial balance being prepared and reconciled by the business, along with supporting schedules from the previous finance team.
- Future increases are limited to RPI, unless there’s a significant change in the scope of work.
- Excludes VAT and disbursements.
Our annual fee for 2023 was:
- Audit – £35,500
- Accounts – £12,500
- Total – £48,000