All businesses should have an historic audit of their bank accounts at least once every five years.
Audit Fees are calculated at £375.00 per annum for the main account. Additional accounts and paying in stations are calculated at £175.00 per annum each.
In addition to the above, a further fee is payable calculated at 30% of any sum recovered for whatever reason including the return of fees, relating to any period up to and including the final date of the audit period covered by this audit contract.
All costs (excluding legal costs if they become necessary) associated with the recovery of overcharges from the lender/bank will be met by the auditor. The auditor will be solely responsible for negotiating the recovery of any overcharges.
The auditor agrees to maintain complete confidentiality in all matters and no contact will be made with the bank/lender without first receiving specific written authorisation from the company.
The company will supply the auditor with all bank statements, facility and other relevant letters relating to the audit period. (Paying in books are only necessary if there are substantial cash deposits). The company will arrange delivery of such documents for audit. Documents will be returned to the company when the audit is completed.
These terms are subject to negotiation depending on the amount of work involved.
We recommend that any initial study normally be for six years. In the event of errors being found we can go further back if needed.
Bank Charges - Bank Audits - Bank Overcharge - Business Banking - Bank Charge Auditing
" The only way to know whether you are being over-charged is to have an Independent Audit "
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