I am a director of a property company. The company used to be audited as it was much bigger but since last year the directors resolved not to have the accounts audited and this was minuted. Only a few properties left and it's taking time to sell the property - it may take 2-4 years to fully wind up the business.
One of the directors insists on having a board meeting every year to minute that the company does not require an audit during that year. I'm just curious to know if this is a company law requirement, i was of the view that one resolution covering all future years was good enough - any advice would be greatly appreciated.