SearchAudit for Manufacturing Businesses
Specialist audit support for manufacturing businesses
HURST is part of a UK top 30 accountancy firm providing audit services to manufacturing businesses across a wide range of sectors. We understand the operational, financial, and commercial pressures faced by manufacturers, from managing margins and supply chains to investing in growth and automation.
Our audit approach is designed to provide not just compliance, but clarity, confidence, and insight to support efficient operations and sustainable growth.
Who we work with
We work with manufacturing businesses typically in the £5m–£150m turnover range, including:
- Owner-managed manufacturing companies
- Engineering and precision manufacturing businesses
- Food and beverage manufacturers
- Manufacturers with international supply chains or exports
How audit is different for manufacturing businesses
Manufacturing businesses face specific audit challenges that require sector experience. These can include:
Stock and inventory complexity
Inventory is often one of the largest and most complex areas in a manufacturing business. We provide robust audit procedures around stock valuation, work in progress, and obsolescence.
Margins and cost control
Understanding true production costs is critical. We review costing methodologies and highlight areas where margins may be impacted.
Supply chain risks
Disruption, supplier dependency, and global sourcing all introduce risk. Our audits consider how these factors impact financial reporting and resilience.
Capital investment and automation
Manufacturing businesses often invest heavily in plant and machinery. We ensure appropriate treatment of capital expenditure and provide clarity on asset values and depreciation.
What you can expect from a HURST audit
Clear communication
We work closely with management, explaining findings in plain English and focusing on key operational and financial risks.
Practical insights
We highlight opportunities to improve processes, controls, and reporting, helping you run a more efficient operation.
Minimal disruption
We plan audits carefully around production schedules to minimise disruption to your business.
Continuity of team
You will work with a consistent audit team who understand your operations and systems.
Common questions from manufacturing businesses
Do we need an audit?
Many manufacturing businesses require a statutory audit based on size thresholds. Others choose a voluntary audit to provide assurance to lenders, investors, or stakeholders.
How much does an audit cost?
Audit fees depend on the complexity of operations, particularly inventory, number of sites, and systems in place.
Can an audit improve efficiency?
Yes. A well-run audit can highlight inefficiencies in processes, improve controls, and provide better visibility over costs and performance.
Case study: Supporting a growing manufacturing business
We worked with a £20m turnover engineering business experiencing rapid growth and increasing complexity in its operations.
Our audit approach:
- Improved stock valuation processes and controls
- Identified margin variances across product lines
- Streamlined reporting across multiple sites
Outcome:
- Greater confidence in financial reporting
- Improved visibility over profitability
- More efficient audit process year-on-year
Why HURST?
- UK top 30 accountancy firm
- Strong experience working with manufacturing businesses
- Partner-led service with a commercial focus
- Integrated support across audit, tax, and corporate finance
Speak to our audit team
If you are a manufacturing business looking for an audit partner who understands your sector, we would be happy to help.
Contact us to discuss your requirements and how we can support your business. imagine@hurst.co.uk
