Description
This work programme is for use when dealing with clients in the UK who are eligible to avail of the requirements not to have an audit. The product is designed to enable practitioners to plan, evidence and control the work that they need to undertake on any such assignment involving the preparation of a set of financial statements. It is suitable for both compilation and limited assurance assignments. The programme has been updated for the new audit thresholds which have increased, effective for financial years beginning on or after 6 April 2025.
Contents
The Audit Exemption Work Programme contains detailed guidance notes and schedules in order for you to prepare the Permanent File and Current File whether for a compilation assignment or review engagement.
There are also a number of appendices comprising an accounts completion report, a letter of request for accounting records, an auditors resignation letter, a sample audit exemption board minute, a clients obligation checklist, engagement letters, going concern checklists, a sample letter of representation, a sample subsidiary members agreement for claiming audit exemption and sample wording for a directors’ statement on the balance sheet.
