Small firms not getting value from their audit

Over half of the UK's small firms are not getting the best value from their audits, research from KPMG has found.

In a survey of 200 SMEs, 56% of respondents said that they viewed their audit as a largely mechanical process that didn’t change from one year to the next.

However, 40% said that the process highlighted recommendations and learning opportunities about the business as a whole.

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