Part 16 Audit (ss 475-539)
Part 16 Audit (ss 475-539)
Companies Act 2006 | Legislation

475 Requirement for audited accounts

(1)     A company's annual accounts for a financial year must be audited in accordance with this Part unless the company—

(a)     is exempt from audit under—

section 477 (small companies),

[section 479A (subsidiary companies)], or

section 480 (dormant companies);

or

(b)     is exempt from the requirements of this Part under section 482 (non-profit-making companies subject to public sector audit).

(2)     A company is not entitled to any such exemption unless its balance sheet contains a statement by the directors to that effect.

(3)     A company is not entitled to exemption under any of the provisions mentioned in subsection (1)(a) unless its balance sheet contains a statement by the directors to the effect that—

(a)     the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, and

(b)     the directors acknowledge their responsibilities for complying with the requirements of this Act with respect to accounting records and the preparation of accounts.

(4)     The statement required by subsection (2) or (3) must appear on the balance sheet above the signature required by section 414.


476 Right of members to require audit

(1)     The members of a company that would otherwise be entitled to exemption from audit under any of the provisions mentioned in section 475(1)(a) may by notice under this section require it to obtain an audit of its accounts for a financial year.

(2)     The notice must be given by—

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