Audit

Though business owners traditionally regard the annual audit and preparation of annual accounts as a necessary evil that adds no value to the business, we strive to transform it into a valued service.

Besides helping you meet the statutory requirements, we also take the opportunity to conduct a review of your financial and management systems. This can often result in our identifying potential problem areas and recommending opportunities to improve your business performance. We discuss the problems and opportunities with you and help you implement any agreed solutions.

To find out more and to discuss your audit requirements in more detail please feel free to contact us.

Does your company need an audit?
 

For accounting periods ending on or after 30 March 2004 limited companies are exempt from having an audit if they meet the following criteria:

Turnover up to £5.6 million
Balance sheet total up to £2.8 million

For accounting periods ending between 27 July 2000 and 30 March 2004 limited companies are exempt from having an audit if they meet the following criteria:

Turnover up to £1.0 million
Balance sheet total up to £1.4 million

Please note that the above is only a simple overview of audit exemptions and there are other conditions that have to be met in deciding if a company is exempt from audit.

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© Copyright Maidment Judd 2004 - 2008. All rights reserved. This information has been produced for general interest. It is therefore essential to take advice on specific issues. We are unable to take responsibility for any outcome resulting from acting upon, or refraining to act upon, this information.