Many RICS-regulated surveyors hold client monies and are therefore covered by the accounts rules, however are no longer required to obtain an annual accountant’s report checking compliance. We perform an audit under the RICS rules to check that client monies are being properly administered. This tends to work quite well when there are a number of branches without a central finance function. In these cases we always prepare a report containing recommendations for improvements to the systems and controls.
Surveying practices sometimes run estate and property management functions, when it is vital that the RICS rules on client monies are adhered to as outlined above. However, we also work with our surveyor clients to advise on the most efficient tax structure for their estate clients, such as the use of trusts. Our financial planning team can additionally help with investment strategies for estate clients.
As with so many other professional practices, surveyors have been hit by the downturn. Cashflow has been squeezed and we often assist our clients in preparing financial projections as a way of focusing on costcutting as well as for banking facility reviews.
What our clients say about us…
I have worked with MHA Chiks Accountants for many years and have found them to be extremely helpful in all aspects of our business.
They adopt a very proactive approach and provide on-going support regarding a range of issues which supports my business
In addition they are extremely well informed and helpful, which is why I would not hesitate to recommend their services.