BIS published a consultation document in October on audit exemptions. One proposal is that a company will qualify for audit exemption if it meets 2 out of the 3 tests of bs £3.26m, t/o £6.5m and <50 employees. It will no longer have to have a turnover of <£6m AND a bs total of <£3.2m to qualify. (nb these thresholds may go up too)
So my potential client with a bs of £6m but turnover and employees well under these thresholds will no longer need an audit if this comes in.
I don't think this has been agreed yet, but does anyone know when it is likely to be decided?