I have bought a small company. If we move to audit exempt will leasing companies automatically refuse new car leases, regardless of our assets, as our immediate accounts are unaudited. We will have several previous years of audited accounts on which we have arranged leases.
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The honest answer is to ask the Leasing companies. They will know your answer.
In reality it shouldn't, as a lot of small companies won't have an audit anymore, but you never can tell.
There wouldn't be much trade for leasing companies if they refused to consider unaudited companies.
Must be over 90% unaudited these days. It's a lot of business to throw away.
I suppose it is possible that the same changes that take you out of audit (falling turnover and balance sheet) will make seem higher risk to lenders
It appears OP was having a voluntary audit, so was small before and small after.
Of course, the leasing companies will read the audit report and realise that it is inappropriate for them to base their risk assessment on, as they will have fully read and understood the Bannerman disclaimer on the accounts (Stop laughing at the back).
Sorry to appear a bit spiky here but are motorcar lease companies able to discern the difference between an auditor’s report and audit exempt report when some well known high street banks ask sole traders to produce audited accounts? As they say in America, just saying!