Audit Requirements

Extended year end

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Hi, my client has extended their year end to 30 June 2016 (15 month period) and they now exceed the £10M turnover threshold ever so slightly, they also exceed the number of employees but do not exceed the assets value. Is the turnover on a pro-rata basis or do we need to prove the turnover in the 12 months to 31 March 2016 was below the threshold? They also had to be audtied in the year to 31 March 2015. Just want to clarify if an audit is required.

 

 

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By mrme89
20th Oct 2016 12:23

http://www.legislation.gov.uk/ukpga/2006/46/section/382

Turnover pro rata, but employee and asset tests remain.

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