1
Q
Audit Exemption: private limited company in the UK may qualify for audit exemption if at least two of the following threshold criteria are met:
A
-Annual turnover of no more than £10.2 million;
-Assets worth no more than £5.1 million;
-50 or fewer employees on average.
2
Q
The exemption (AUDIT) is not available if:
A
- If company’s article of association include audit requirement
- shareholders owing at least 10% of shares (by number of value) make a written request to the company’s registered office at least one month before the end of the financial year
3
Q
A
