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Audit exemption conditions for companies

This helpsheet outlines the audit exemption conditions for companies. Download the full helpsheet for a flow diagram of conditions to help determine whether an audit is required.

This helpsheet does not reflect the Statutory Instrument 2015/980 ‘The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015’, which has effect in relation to financial years beginning on or after 1st January 2016. The regulations can be applied for the financial year beginning on or after 1st January 2015 but before 1st January 2016, if the directors of a company so decide, but the company is not exempt from the requirements to audit that year if it would not have been so exempt but for that application.