Had a couple of requests recently for audited accounts for small businesses. As a CIMA member, I am not qualified to do this, but suggested it was not necessary. As a member in practice working closely with clients, I would spot any irregularities, soon after they happened and under the Money Laundering Regulations, we have to report anything untoward. I can't see the benefit of an audit some months after the year end, when I work with clients on a day to day basis and I am obliged as a Reporting Accountant to comply with the FRSSE, in any case. This is just a waste of money for the client.
I also think that CIMA ought to have a conversion route for Members in Practice who do want to offer the full audit. There may be legal hurdles and objections from other Chartered Institues (no names mentioned concerning the monopoly holders), but we should not be excluded with our technical background.