According to the new rules there will be more than 100,000 small companies from the requirement to have an audit may raise tax issues. The new audit threshold rules, which come into effect on October 1 and were announced by the Department of Business Innovation and Skills (BIS) earlier in September, mean that small businesses will not need […]
The recent parliamentary committee debate on proposed changes to a local audit draft bill had been hostile. According to reports the debate had been dominated by the potential pitfalls within the bill. Marcine Waterman, controller of audit at the Audit Commission, argued there were three main risks: the absence of NHS representation, a lack of […]
There’s a lot to consider if you are planning to sell your company. A successful sale doesn’t go through immediately. When selling your business, tax is an important element to consider. At the time of sale, you will be burdened with many issues to deal with out of which tax is an extremely important.
If your business meet the audit threshold, it is highly likely that you will be subjected to an annual statutory audit. In the standard audit reports that accompany financial statements, the auditor’s responsibility is to express their opinion on whether the company’s accounts presents a true and a fair view.