Does your business qualify for an audit?
Your company may qualify for an audit exemption if it has at least two of the following:
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an annual turnover of no more than £10.2 million
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assets worth no more than £5.1 million
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50 or fewer employees on average
Your company must have an audit if at any time in the financial year it has been:
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a public company (unless dormant)
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a subsidiary company (unless it qualifies for an exception)
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an authorised insurance company or carrying out insurance market activity
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involved in banking or issuing e-money
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a Markets in Financial Instruments Directive (MiFIC) investment firm or an Undertakings for Collective Investment in Transferable Securities (UCITS) management company
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a corporate body and its shares have been traded on a regulated market in a European state