More than 100,000 extra businesses to be exempt from audit

As announced by the government last month, changes to the thresholds for audit exemption, which apply for accounting years ending 1 October 2012 onwards, should, for a number of SMEs, mean they are no longer required to prepare audited accounts. … Continue reading

EU propose the exemption of small companies from filing accounts

The EU have agreed a new directive that allows member states to exempt very small companies from mainstream accounting and financial reporting obligations. The reforms are part of a Europe-wide drive to ease the administrative burdens on the continent’s smallest … Continue reading

What is an Audit?

There appears to be an expectation gap between what the audit does and what people think it does, that’s become clear in recent years. We are asked, what is it there for, are auditors corporate policeman, are they a safety … Continue reading