We are Registered Auditors and are authorised by the Institute of Chartered Accountants in England and Wales to carry out audit work.
At the present time, ordinary trading companies are exempt from having to have an audit if they have at least two of the following ; an annual turnover of less than £10.2 million ; Balance Sheet assets of less than £5.1 million ; or 50 or fewer employees. However, a small company will still have to have it's accounts audited if at least 10% of shareholders request one, and banks or other financial institutions can sometimes demand that smaller companies undergo an audit as part of their lending criteria. Also, many charities, clubs and associations with lower turnover levels can be required by their constitutions to have an audit or an independent examination of their accounts.
Whilst we will never advise a business to undergo an audit unless it is a legal requirement or there is some other sound commercial reason, we will be happy to answer any queries about auditing and how we can provide help in this area if you do need it.