C11C6C15C5C17C16C14C4Part 16Audit

Annotations:
Modifications etc. (not altering text)
C11

Pt. 16 applied (with modifications) (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 162, 163 (with reg. 189)

C5

Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

C1C2C10C7C5C8C9C13 Chapter 1Requirement for audited accounts

Annotations:
Modifications etc. (not altering text)
C2

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

C10

Pt. 16 Ch. 1 applied (with modifications) by S.I. 2008/565, reg. 3 (as substituted (with effect in accordance with reg. 2(4) of the amending S.I.) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), Sch. 2 para. 3 (with reg. 2(6)(7)))

C7

Pt. 16 Ch. 1 applied (with modifications) (E.W.S.) (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations 2018 (S.I. 2018/1030), regs. 1(2), 9(4)-(8)

Exemption from audit: small companies

C12C3477Small 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).