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Preparing an audit report for micro entities

This guide was last updated in September 2018 and is based on the relevant laws and regulations that apply as at 1 September 2018. The only changes since the last version of the helpsheet are to the use of the audit report section to reflect the release of Technical Release 01/03AAF (Revised).

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This guide is designed to explain the main changes that are needed to the audit report of a company preparing its financial statements under the micro-entities regime compared to that of a company preparing its financial statements under FRS 102.

It does not seek to explain every difference, just the key areas to consider as a result of the differing legal and regulatory requirements.

For further reading on the Micro-entities regime.

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