C6Part 16Audit
C4C5Chapter 1Requirement for audited accounts
Pt. 16 Ch. 1 applied (with modifications) (6.4.2008) by The Bank Accounts Directive (Miscellaneous Banks) Regulations 2008 (S.I. 2008/567), reg. 4, Sch. para. 1 (with Sch. para. 11)
Pt. 16 Ch. 1 applied (with modifications) (6.4.2008) by The Partnerships (Accounts) Regulations 2008 (S.I. 2008/569), regs. 4, 7, Sch. Pt. 1
Requirement for audited accounts
C1C2475Requirement for audited accounts
C31
A company's annual accounts for a financial year must be audited in accordance with this Part unless the company—
a
is exempt from audit under—
section 477 (small companies), or
section 480 (dormant companies);
or
b
is exempt from the requirements of this Part under section 482 (non-profit-making companies subject to public sector audit).
2
A company is not entitled to any such exemption unless its balance sheet contains a statement by the directors to that effect.
3
A company is not entitled to exemption under any of the provisions mentioned in subsection (1)(a) unless its balance sheet contains a statement by the directors to the effect that—
a
the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, and
b
the directors acknowledge their responsibilities for complying with the requirements of this Act with respect to accounting records and the preparation of accounts.
4
The statement required by subsection (2) or (3) must appear on the balance sheet above the signature required by section 414.
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2