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 that £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 if it's been:

  • a public company

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

  • an authorised insurance company or carrying out insurance market activity

  • involved in banking or issing e-money

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

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

 This is due to change in the next couple of years and we will of course keep you posted.