Does your business qualify for an audit?

Your company may qualify for an audit exemption if it has at least two of the following:

• an annual turnover of no more than £10.2 million

• assets worth no more than £5.1 million

• 50 or fewer employees on average

Your company must have an audit if at any time in the financial year it has been:

• a public company (unless dormant)

• a subsidiary company (unless it qualifies for an exception)

• an authorised insurance company or carrying out insurance market activity

• involved in banking or issuing e-money

• a Markets in Financial Instruments Directive (MiFIC) investment firm or an Undertakings for Collective Investment in Transferable Securities (UCITS) management company

• a corporate body and its shares have been traded on a regulated market in a European state