Audit obligations

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Practice notes
The Quoted Companies Alliance (QCA) is an independent membership organisation that champions the interests of small to mid-sized quoted companies. One...
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9th Nov
Practice notes
This Practice Note examines the law and practice on giving irrevocable commitments or undertakings or letters of intent in the context of a public...
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9th Nov
Practice notes
This Practice Note is part of the Share purchase transaction toolkit.In order to effect all aspects of the transaction, each share purchase...
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9th Nov
Practice notes
A minority member in a company does not have much power to influence its management or any majority member(s) and, therefore, sometimes their...
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9th Nov
Practice notes
Shares in a company may be allotted or transferred to any number of holders (whether they are natural persons or corporate entities) to be held...
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9th Nov
Practice notes
This document provides accessible practical guidance and links to more comprehensive content in relation to class 1 transactions undertaken by UK...
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9th Nov
Practice notes
A ratchet in private equity is a mechanism to vary the amount of equity held by founders, managers and employees post-investment.In a venture capital...
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9th Nov
Practice notes
The underwriters or initial purchasers in an international securities offering will customarily require that the issuer's accountants provide one or...
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Produced in partnership with Peter Kohl of Hogan Lovells International LLP 12th Jan
Practice notes
What is an unregistered company?An unregistered company is a rare form of incorporated company that is not formed or registered under the Companies...
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9th Nov
Precedents
Important-this provisional allotment letter (pal) is of value and is negotiable. It requires your immediate attention. The offer expires at [insert...
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9th Nov
Practice notes
This Practice Note considers the obligation of an issuer who issues or proposes to issue financial instruments which are within the scope of the...
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9th Nov
Practice notes
Why restore a company to the register?When a company has been struck off it may be possible for an interested person to make an application to the...
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9th Nov
Practice notes
The principle definedCompany decisions are made by way of resolutions of the shareholders. There are three ways in which a resolution of a company may...
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Produced in partnership with Philip Hinks of 3 Verulam Buildings (3VB) 12th Jan
Practice notes
The agreement of the members of a company is required to make certain changes to a company, such as amending its constitution, name or share capital,...
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9th Nov
Practice notes
This Practice Note provides an overview of the agreement for the sale and purchase of shares in a private limited company (target): the share purchase...
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9th Nov
Practice notes
This Practice Note provides an overview of the purpose, content and scope of a comfort letter prepared by the auditors of a company preparing to offer...
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9th Nov

Most recent Audit obligations content

Practice notes
The UK Corporate Governance Code (UKCG Code), which is issued and administered by the Financial Reporting Council (FRC) is the benchmark for good...
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12th Apr
Practice notes
This Practice Note looks at the requirement that an LLP’s annual accounts be audited in accordance with Part 16 of the Companies Act 2006 (CA 2006) as...
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8th Apr
Practice notes
A company’s obligations in relation to audit and auditors are governed by Part 16 of the Companies Act 2006 (CA 2006). The CA 2006 introduced rights...
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8th Apr
Practice notes
If an LLP prepares annual accounts for a financial year, they must be audited, unless the company is exempt from audit.Small LLP exemption from the...
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8th Apr
Practice notes
If a company prepares annual accounts for a financial year, they must be audited, unless the company is exempt from audit.Qualifying subsidiary...
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8th Apr
Practice notes
At 11pm UK time on 31 January 2020 (exit day), the United Kingdom left the European Union in accordance with a ratified Withdrawal Agreement between...
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8th Apr
Practice notes
If a company prepares annual accounts for a financial year, they must be audited, unless the company is exempt from audit.Small company exemption from...
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8th Apr
Practice notes
AAccounting reference period (ARP)Usually the period of 12 months over which a company draws up its accounts. If the company's accounting period does...
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8th Apr
Practice notes
A dormant company is constituted and managed in the same way as any other company. However, the requirements relating to accounts and audit that...
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8th Apr
Practice notes
There are statutory provisions relating to the signature, filing and distribution of an auditor’s report on the accounts and reports of a company.For...
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8th Apr
Practice notes
This Practice Note looks at the requirement that a company’s annual accounts be audited in accordance with Part 16 of the Companies Act 2006 (CA 2006)...
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8th Apr
Practice notes
In the UK, the audit of accounts and reports is governed by the Companies Act 2006 (CA 2006), Parts 16 and 42.Under CA 2006, s 475, a company is...
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8th Apr
Practice notes
ContentsCoronavirus (COVID-19)—impact on financial reporting and auditAudit— UK and EU legislationAudit—regulatory guidanceAudit—consultations and...
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26th Mar
Practice notes
This guidance, dated March 2017 and updated in January 2020, was produced by The Chartered Governance Institute (formerly known as ICSA: The...
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26th Feb
Q&As
In April 2014, the EU issued Regulation 537/2014/EU of the European Parliament and the Council of the European Union (EU Audit Regulation) and...
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25th Feb
Q&As
Dormant company—exemption from auditA dormant company may be a public company or a private company. It is constituted and managed in the same way as...
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15th Feb
Q&As
Even if a small company is exempt from the obligation to have its annual accounts audited, sections 485–488 of the Companies Act 2006 (CA 2006) carry...
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15th Feb
Q&As
A dormant company will only remain dormant during any accounting period in which it has had no significant accounting transaction (section 1169(1) of...
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15th Feb
Q&As
Companies are required to file audited accounts and reports with Companies House unless an exemption applies (such as the small company, subsidiary...
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6th Dec
Q&As
Re-registration of companiesPart 7 of the Companies Act 2006 (CA 2006) deals with the re-registration of a company, with CA 2006, ss 97–101 dealing...
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6th Dec

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