Q and A's
e-financial management

Will I need to be audited?

In general, you do not require a statutory audit if your turnover and an abbreviated balance sheet fall below certain limits. This exemption does not apply in certain instances including:

  • The company is a public company unless it is dormant
  • The company is a subsidiary of an overseas undertaking
  • Members holding 10% of the share capital request an audit
Limits
Turnover < £5,600,000
Balance total < £2,800,000

For more information please visit www.dti.gov.uk

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