Do You Need An Audit? The additional expense of an audit, over and above preparation of statutory accounts, can be avoided by some limited companies. There are exemptions for companies that qualify as small:-   Accounting Periods Beginning on or After 6th April 2008 Turnover not more than £6.5 million Balance Sheet total not more than £3.26 million Number of employees not more than 50 Although not all companies are eligible for these exemptions and some choose, in any case, to continue with an audit, you may feel that there will be benefits available to you if you avoid this process. Please contact us for further details.