Do I need an audit?
As a rough guide, you will not need an audit if you are a private limited company and your turnover is less than £6.5 million and your assets are less than £3.26 million (for accounting periods commencing on or after 6 April 2008).
You will need an audit:
- If the company was at any time part of a group requiring an audit.
- For companies below the £6.5 million threshold, if any member or members holding not less in aggregate than 10% in nominal value of the company’s issued share capital, requests an audit for that year in writing no later than one month before the end of the year.
- If the company was at any time during the financial year a public company, a banking or insurance company, an e-money issuer, an ISD investment firm, a UCITS management firm or carries on insurance market activity.
Contact us
To discuss your audit requirements, please contact a member of our Audit and Assurance team or send us an enquiry online.
