Two West Yorkshire accountancy firms have joined forces to deliver a collaborative service to an existing client who required a statutory audit.

Isaacs Accountants and Shenward Chartered Accountants joined forces to prepare the client’s annual financial statements and company tax return.

As the client who operates in the motor industry had breached the small company thresholds, they were required to undertake a statutory audit.

Taking a collaborative approach was for the benefit of the existing Isaacs client, turning the tide on the idea that neighbouring firms are competitors, and instead allies.

Isaacs was responsible for preparing the annual financial statements and supporting schedules and Shenward performed the statutory audit which also identified operational and financial recommendations. These will be implemented by the team at Isaacs.

The collaboration consolidates the idea that firms are no longer pushing against one another to be the first to reach a client base but are in fact brushing shoulders and keeping one another in mind to have the best interests and outcomes for the client.

With the pandemic looming over businesses for the past 18 months, it has been a struggle nationwide not only from a business perspective, but accountancy firms have had the added pressures of having to keep up with ever changing legislation for their clients.

Sherad Dewedi, managing partner at Shenward said: “We were incredibly honoured to collaborate with Isaacs Accountants for a client of theirs.

“Knowing what’s best for your client and bringing in people from outside of your business is a move which shows you have their best interests in mind, rather than just the company’s priorities.”

“The pandemic has shown that lifting up your community is of the utmost importance, and we as a nation need reminding of this. Helping out a fellow Bradford based accountancy firm shadows this, and we were more than happy to join our expertise to give the client the best support possible.”

Both Shenward and Isaacs share similar values of caring for their local community, their team and having a client-focused approach to their work.

Shenward is a family-run business passionate about creating a positive culture for their employees to thrive in. They strive to provide flexible working options that align to employees’ specific requirements, but also meet the needs of the business, and the needs of the under-pressure businessperson working in today’s fast paced environment.

Their team of highly qualified and experienced individuals make it their mission to provide exceptional customer service to clients through a fresh and modern approach to accountancy and have done so since founding over 30 years ago.

Isaacs are an independent firm of accountants providing innovative solutions to businesses in the SME market. They pride themselves on finding solutions that add real and tangible value to the businesses that they advise.

Sarfraz Khan, director at Isaacs added: “Businesses often boast about their company values, but it’s not often you really get to see them working in practice.

“I think it’s clear to see through our partnership with Shenward that we practice what we preach. We are a forward looking and innovative firm and continue to work with likeminded businesses in providing the right solution for our clients and helping out the community in any way we can.

“Businesses continue to face diverse challenges, more so since the events of the pandemic and Brexit. It is imperative that they reach out to their professional advisors early on so that they can get advice on the right course of action on a timely basis.”