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Can a small UK subsidiary of an overseas parent qualify for audit exemption?

This helpsheet addresses the considerations as to whether or not a UK subsidiary requires an audit.

Issued: January 2016
Last reviewed: March 2020

This helpsheet has been issued by ICAEW’s Technical Advisory Service to help members make their assessment as to whether a (non-dormant) UK subsidiary of an overseas parent is entitled to audit exemption under the Companies Act 2006.