Audit exemptions and useful links

Audit exemptions

The main restriction on the work that can be undertaken by members of AAT is the audit threshold. Anyone can prepare the accounts. However, if the company requires an audit then that must be signed off by a registered auditor. Charities can either be audited or undertake a form of audit called an independent examination. Whether an audit is required depends on the company or charity’s turnover or gross income.

Useful documents and links

If you provided the accounts that you have prepared to be sent, in support of a mortgage application or loan, to a bank or building society then you may find this covering letter useful.