Audit

 
 

 

The audit threshold set by the Companies Act 2006 has been changed and therefore the requirement to have a compulsory audit has diminished in recent times.

 

Statutory Audit Limits:

Turnover > £6.5million No Employees > 50 Net Assets > £3.26m

SP&P offer the following audits:

 

  • Statutory Audit where your company has exceeded the limits as set out above and is required prior to the filing of your accounts.
  • Voluntary Audit Some companies voluntarily have an audit, this can be for many reasons and are normally specific to that company.

 

Reasons may include better terms with your suppliers, the reliance on your financial information by others or to maintain good company health.