This authoritative article explores statutory audits in the UK: their role in reporting, what auditors do, and what the opinion means. It explains risk focus, sampling, presentation, and going‑concern in clear terms, and distinguishes audits from other assurance engagements. Directors, governors, and managers get practical readiness steps: timely reconciliations, review sign‑offs, and documented judgements. The tone is educational, objective, and relevant to companies and charities, highlighting compliance and confidence.