Most small private limited companies do not need an audit of their annual accounts – unless the company’s articles of association say it must or enough shareholders ask for one.
For companies with financial year ends after 1 January 2016, you may qualify for audit exemption if your company meets two of the following: –
- Has an annual turnover of no more than £10.2 million
- Has assets no more than £5.1 million
- Has 50 or fewer employees
Last updated: 18 December 2018