TTR Barnes

TTR Barnes is delighted to announce the promotion of two valued team members, John Paul Aitken and Jack Stevenson, to Accounts & Audits Assistant Manager positions. Their well-earned promotions follow the successful completion of their ACA Chartered qualifications, marking a significant milestone in their careers and reinforcing our firm’s expertise in audit services.

John joined TTR Barnes in 2019, bringing with him a degree in Accounting & Finance, followed by an apprenticeship at a local accountancy firm. With certifications in SAGE, Xero and QuickBooks, he initially focused on accounts preparation before specialising in auditing, where he has developed a keen eye for financial accuracy and compliance.

Jack has been a key part of our team since 2018, after graduating with a degree in Mathematics. Over the years, he has played an integral role in accounts preparation for both sole traders and limited companies, steadily expanding his expertise before achieving ACA Chartered status last year, which has enabled him to incorporate audit work into his portfolio.

With similar career paths and aspirations, John and Jack have supported each other throughout their studies, which required dedication and commitment over several years of rigorous and complex modules.

John shared, “Attaining ACA qualification is no small achievement, and I’m incredibly proud to have reached this milestone and gained my ICAEW Chartered status. I’m excited to continue delivering high-quality accounting and auditing services to our clients.”

Jack added, “After years of studying and hard work, achieving my ICAEW ACA qualification is a proud moment. This certification demonstrates not only my expertise in accounting and auditing but also my commitment to professionalism, integrity and high standards. As a qualified Chartered Accountant, I’m fully equipped to provide strategic financial advice, compliance support and insightful business planning to help our clients thrive.”

These promotions not only strengthen the leadership structure within our Accounts & Audits team but also enhance our auditing capabilities, allowing us to offer even greater support to our clients.

Auditing plays a vital role in ensuring financial transparency, operational efficiency and regulatory compliance, particularly in line with UK accounting standards set by the Financial Reporting Council (FRC) and the Companies Act. With an expanded audit provision, TTR Barnes can deliver tailored audit services, addressing the specific challenges and needs of each business we work with.

Manager Amy commented, “For established and growing businesses, a well-conducted audit is more than just a regulatory requirement – it’s an opportunity to gain deeper financial insights that support informed decision-making. Many SMEs operate in fast-paced industries where financial accuracy and risk management are essential. With our growing audit expertise, we can help businesses identify cost-saving opportunities, improve cash flow management and enhance financial reporting processes. These services are especially valuable for companies looking to secure investment, obtain financing or plan for expansion.  We’re incredibly proud of John and Jack for achieving their Chartered status and strengthening our audit offering.”

Effective from 6 April 2025, the UK government is implementing new regulations that will adjust the size thresholds determining company classifications. This initiative aims to simplify financial reporting and reduce the administrative burden on businesses.

Revised Company Size Thresholds:

To qualify as a particular size, a company must meet at least two of the following three criteria:

These adjustments represent a 50% increase from the previous thresholds, last set in 2013.

Implications for Auditing:

With the elevation of these thresholds, more companies will qualify as ‘small’ and, consequently, may be exempt from mandatory statutory audits. This change is expected to affect approximately 132,000 businesses, allowing them to benefit from reduced compliance costs and simplified reporting obligations.

However, while the relaxation of audit requirements can lessen administrative burdens, it’s essential to consider the intrinsic value that audits provide. Audits enhance financial transparency, bolster stakeholder confidence and can uncover opportunities for operational improvements. Therefore, even if a statutory audit is no longer compulsory, businesses may still opt for voluntary audits to maintain robust financial oversight and credibility.

If you’re looking for Accounting or Auditing services, please don’t hesitate to get in touch with our expert team  – we’d be happy to help.

All information correct at time of going to print/live and on the best knowledge and understanding of the author at the time. This article is for general information only and does not constitute financial advice or recommendations for individual circumstances. No responsibility is taken for any actions taken on the base of the information within this article.