Plugging the audit income gap
Kathryn Poulter outlines how you can expand your services to clients, and in turn begin to cover any drop in audit income.
The recent increase in the audit threshold to £5.6m could hit practices hard over the coming months.
With increased competition from other organisations providing audit compliance and other services to clients, practices are being forced to recognise the need to actively search for other income generating areas of work.
In addition, increasing numbers of clients are turning to their accountant for help and advice on business matters such as employee-related issues and health and safety. This is not surprising given that in addition to accountancy and audit compliance, practices often provide clients with other services, e.g. payroll.
ACCA is pleased to be able to help practitioners, by offering them the opportunity to recommend iQ Business Manager to clients. For each order placed by a client, the practice will receive a commission.
Your clients have a legal obligation to make sure they comply with employment law and health and safety legislation. They may not be aware of their obligations, but by offering them iQ Business Manager, you will be helping them to protect their business.
The iQ Business Manager package for ACCA members is made up of three products from iQ Business:
- iQ Employment Manager
Keeps a business on the right side of the law, secures good employee relations and minimises risks. Includes ready to customise documentation and templates, including employee handbook and checklist, contract of employment, and step-by-step management guides. Backed up by a 24/7 employment legal advice line, it also includes legal expenses and awards insurance plus free quarterly updates to keep the business up to date.
- iQ Health & Safety Manager
Ensures a business fulfils its legal duty to ensure the health, safety and welfare of its employees. Includes management factsheet guides, health and safety policy statement and company policy manual plus ready to customise templates. Backed up by the 24/7 specialist health and safety legal advice line, it also includes legal expenses insurance plus free quarterly updates.
- iQ Legal Manager
An unlimited access legal advice line available 24/7, which allows businesses to speak to commercially experienced lawyers on any business issue.
Knowing that these issues are being dealt with efficiently and correctly will give your client peace of mind as company time is utilised more effectively, enabling the business to focus on its core activities, thus making it more effective and profitable.
In turn your practice will benefit from additional income for minimal effort.
The package of three products is supplied on an annual subscription basis. The usual combined price of the products for clients with up to 50 staff is £565* + VAT. However, ACCA’s package costs only £345 + VAT. (*small supplementary charge for 50+ staff - contact iQ Business for details.)
iQ Employment Manager and iQ Health & Safety Manager are supplied on CD-ROM. iQ Business offers full support to help your practice maximise this opportunity - including supplying product literature for you to discuss with your clients.
For further information please contact iQ Business on 01937 587877 or e-mail firstname.lastname@example.org, quoting INP0304.
Kathryn Poulter - Customer Relations Director, iQ Business