Statutory auditor based in the West Midlands

What companies need to be audited and am I exempt?

Any UK based company must have their annual accounts audited unless the company qualifies for exemption. Companies are exempt from audit requirements usually because they have not met certain financial thresholds and meet the legal definition of a small company.

To qualify for the exemption, two of the following criteria must be applicable to the company (or group of companies it belongs to):

• The company (or group) must have less than 50 employees.
• Turnover must be less than £10.2 million.
• The assets of the group must be less than £5.1 million.
• The group that the company belongs to does not qualify as it includes ineligible companies under CA 2006 s384.

Even if a company meets two of the required criteria’s above it may still require an audit or it may be beneficial for an audit to be performed (for example if there is a potential sale of the business).

If you are unsure of your status or would like to discuss the benefits of having your company audited then please get in touch and we would be more than happy to help provide clarity.

Our approach

Our audit services are built on our big firm experience and ability combined with the personal and friendly service of a smaller practice.

We work with you and to your deadlines and timescales ensuring the audit is not the dreaded inconvenience it often can be seen as.

Our ethos is on a “no surprise” audit – aiming to be a hassle free, efficient and collaborative service.

Also being a smaller practice we don’t have the overheads of a larger firm, meaning we can offer a cost effective service.

If you would like a further information, please contact Dean Jarman using the contact us section.