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Who Needs Audited Accounts
An audit is required if either the turnover or the assets of the company cross a certain audit threshold.
The latest thresholds are as follows:-
If your company's accounting period begins before 6 April 2008, your company will have to be audited if -
It has an annual turnover of £5.6 million or more
It has net assets of £2.8 million or more
If your company's accounting period begins on or after 6 April 2008, your company will have to be audited if -
It has an annual turnover of £6.5 million or more
It has net assets of £3.26 million or more
However, even if your turnover or net assets are less than this, you may still choose to have an audit carried out.
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Cheesmans 4 Aztec Row, Berners Road,
Islington, London N1 OPW
Tel: +44 (0) 20 7354 3914 | Fax: +44 (0) 20 7354 9816 | Email: contact@cheesman.co.uk
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