As a Partner and Responsible Individual (RI), Chris is part of the Hentons Senior Leadership Team and also heads up our Leeds Audit and Small and Medium-Sized Enterprise (SME) teams.
June 16, 2023
The Audit department at Hentons is celebrating a highly successful year, with one standout achievement that has captured the attention of the industry—the addition of a major cryptocurrency trading business to their client portfolio. This significant win highlights Hentons’ commitment to innovation and staying ahead of the curve in a rapidly evolving business landscape.
The expertise and forward-thinking approach of Hentons’ Audit team were crucial in securing this valuable client. The cryptocurrency business developed an algorithm that revolutionised the buying and selling of Bitcoin. By analysing market trends and strategically executing trades, the algorithm maximises profits for its users. However, this success presented unique challenges in terms of data interrogation and auditing.
The sheer volume and complexity of data generated by the algorithm’s transactions made traditional auditing techniques inadequate for the task at hand. Recognising the importance of conducting a thorough audit, Hentons rose to the challenge. Leveraging their extensive expertise in auditing and their commitment to staying at the forefront of industry advancements, they developed innovative techniques to navigate the complexities of the cryptocurrency business’s operations.
Last year’s audit success has positioned Hentons as a trusted partner for the cryptocurrency business, leading them to return for their 2023 audit. Armed with the necessary techniques and processes, Hentons is well-prepared to efficiently and effectively audit this type of innovative company. This accomplishment is not only a win for the Audit department but for the entire firm, showcasing their commitment to excellence and the ability to adapt to emerging industries.
Chris Howitt, Partner at Hentons, emphasised the significance of this achievement, stating,
“In a year of significant victories for our department, one win stood out amongst the rest – the addition of a major cryptocurrency trading business to Hentons’ client portfolio. This win is a testament to the increasing importance of cryptocurrencies and blockchain technology in the modern economy, and the foresight of our team to stay ahead of the curve.”
Hentons’ success extends beyond the cryptocurrency business. The department has secured over £160k of new audit work in just five months, spanning a diverse range of businesses. This success has solidified Hentons’ position as a leading provider of audit services in the UK.
“The success of the Audit department this year can be attributed to a number of factors, but most importantly, our relationship-focused and personable approach,” says Charlotte Maxwell-Warrior, Audit Manager at Hentons. “Client feedback has highlighted that our team brings a human touch to what can often be dry and technical work. We believe that building personal relationships with our clients is key to our success, and we are grateful for their positive feedback and continued support.”
Looking ahead, Hentons recognises the importance of catering to SME audit clients, especially as businesses seek cost-saving measures. Their focus on delivering high-quality service at a lower fee than ‘top 10’ firms has proven to be a winning strategy. By continuing to build relationships with clients and maintaining a personable approach, the Audit department at Hentons is poised for continued success.
Click here to get in touch with our Audit team.