Audit exemption - Summary

1 October 2012
Linda Laurie

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Changes have been introduced to the rules on audit exemption by the Companies and Limited Liability Partnerships (Accounts and Audit Exemptions and Change of Accounting Framework) Regulations 2012.

These Regulations came into force on 1 October 2012 and apply to financial years ending on or after that date. Companies will be able to extend their financial year ends to take advantage of the change in the rules to audit exemption provided they satisfy the conditions contained within section 392 of the Companies Act 2006 eg they have not extended their accounting reference period in the previous 5 years.


  • Guidance
  • Audit and Assurance

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