Audit and auditors—glossary
Audit and auditors—glossary

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Audit and auditors—glossary
  • Brexit impact
  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • I
  • more

Brexit impact

The UK audit regime may be affected by Brexit. For further details of its impact, see Brexit—statutory audit.


Accounting reference period (ARP) Usually the period of 12 months over which a company draws up its accounts. If the company's accounting period does not coincide with its period of account or if the accounting period spans more than one financial year, the profits must be apportioned (see accounting reference date (ARD) and Practice Note: Corporation tax—basic principles).
Accounting reference date (ARD) A company’s accounting reference period (ARP) is determined by reference to its accounting reference date: it ends on that date. The ARD is normally the last day of the month in which the anniversary of the company’s incorporation falls (CA 2006, s 391). For further information see Practice Note: A company's financial year.
Accounts meeting The particular general meeting of the company at which its annual accounts and reports are (or are to be) laid in accordance with CA 2006, s 437, most typically its annual general meeting (AGM).
Annual accounts