In search of quality in company accounts

Recent reviews of accounts filed at Companies House found that a ‘sizeable minority’ contained errors, raising questions over the quality of support given to smaller companies by accountancy firms. Philip Smith reports

If a supplier, customer or lender wants to check the financial position of a company they are about to do business with, one port of call will be Companies House. Here they can find the latest set of accounts and other financial information that will help them decide whether the company is in good financial shape.

But if the accounts are incomplete, inaccurate or open to misinterpretation, then the user will have a problem. And a review of the accounts filed at Companies House suggests this could be a problem.

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