Where a company's turnover is greater than £6.5m, an annual audit of the company's accounts will be required in every case.
However, this is not the only criterion and it is the directors' responsibility to seek appropriate advice. Circumstances where an audit will be required may include:
- where the company’s gross assets exceed £3.26m
- where the shareholders demand it
- financial services companies
- companies which are registered charities
Even though an audit is not required by law, many companies opt to have their accounts audited, either for their own peace of mind or as a requirement of their financiers.
As registered auditors, we have substantial experience not only in the audit of private limited companies but also other regulated bodies including professional partnerships and charities.
We would be delighted to review with you your requirements and provide a fixed fee quotation.