Companies that must have an audit
Most small private limited companies do not need an audit of their annual accounts – unless the company’s articles of association say it must or enough shareholders ask for one.
Some companies must have an audit even if they meet the rules for not having one. Your company must have an audit if at any time in the financial year when it has been:
- a public company (unless dormant)
- a subsidiary company (unless it qualifies for an exception)
- an authorised insurance company or carrying out insurance market activity
- involved in banking or issuing e-money
- a Markets in Financial Instruments Directive (MiFID) investment firm or an Undertakings for Collective Investment in Transferable Securities (UCITS) management company
- a corporate body and its shares have been traded on a regulated market in a European state