C5Part 16Audit
C3C4 Chapter 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
Exemption from audit: small companies
C1C2477Small companies: conditions for exemption from audit
1
A company that F1qualifies as a small company in relation to a financial year is exempt from the requirements of this Act relating to the audit of accounts for that year.
2
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
For the purposes of this section—
a
whether a company qualifies as a small company shall be determined in accordance with section 382(1) to (6), F3. . .
b
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
This section has effect subject to—
section 475(2) and (3) (requirements as to statements to be contained in balance sheet),
section 476 (right of members to require audit),
section 478 (companies excluded from small companies exemption), and
section 479 (availability of small companies exemption in case of group company).
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