Not the usual rant about HMRC

Not the usual rant about HMRC

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Just had an enqiry from a firm of solicitors regarding a Flat Management Company ( I won't go into the issues about the latest dictates re Service Charges) . Surprise

surprise they have asked for a set of the last AUDITED accounts. We could say that they dont exist or politely point out that the Company is an audit exempt company and audit exempt companies have been in existance since ?? Whilst on the same rant about lawyers a client was recently selling a limited company and his solicitors wanted confirmation that the CT had been agreed. When will our legal colleagues ensure that all the precednts are upto date ?????????????

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By Roland195
22nd Oct 2012 10:55

Audited

I have long wondered where banks specify "Audited Accounts" in loan agreements, if this can be used as a default to renegotiate - hike up the interest rate etc when the company in question only provides it's non-audit, stat accounts.

I have not come across it happening before but suspect it is because that the banks etc have absolutely no idea of the difference.

 

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