Audit Threshold

Discussion in 'UK Accountancy' started by Steven Sharp, Nov 25, 2003.

  1. Steven Sharp

    Steven Sharp Guest

    Hello,

    I've heard the audit threshold is going to go up to £5.6m, but not when. Does
    anybody have any more details or know where I could find them please?

    Thanks,

    Steven
     
    Steven Sharp, Nov 25, 2003
    #1
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  2. Steven Sharp

    Alan Secker Guest

    It was announced on 19th but none of the notices I read
    mentioned a start date, only that the consultation was over.

    Alan secker
     
    Alan Secker, Nov 26, 2003
    #2
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  3. Steven Sharp

    John Pointon Guest

    All the announcement stated was that the new threshold is expected to
    come into law "in January 2004". See
    http://www.wired-gov.net/EDP8203R7W/WGArticle.asp?WCI=htmArticleView&WCU=ARTCL_PKEY=21024
    .. Presumably the vagueness is designe to cater for any delays in getting
    the requisite legislation through Parliament.





    John Pointon
    Accountant, Tax Consultant
    "In business to grow your business".
     
    John Pointon, Nov 26, 2003
    #3
  4. Steven Sharp

    Paul Garbett Guest

    According to bumph we had through from 2020, they were suggesting year ends
    after 31.1.04 - may be worth extending some 31.12.03 year ends forward....
     
    Paul Garbett, Nov 26, 2003
    #4
  5. Steven Sharp

    Peter Saxton Guest

    Shouldn't that be backward? Both can seem right depending on your
    perspective but is there an "official" version?
     
    Peter Saxton, Nov 27, 2003
    #5
  6. Steven Sharp

    Martin Guest

    On Wed, 26 Nov 2003 20:20:18 -0000, "Paul Garbett"

    Shouldn't that be backward? Both can seem right depending on your
    perspective but is there an "official" version?

    Is that perspective of English meaning, or perspective of whether or not an
    extra year's audit fee can be charged? ;-)
     
    Martin, Nov 27, 2003
    #6
  7. thanks
     
    Pradip THAKAR, Dec 25, 2003
    #7
  8. The turnover threshold above which an annual audit of a company is
    required, was expected to be increased from £1m to £5.6m to take
    effect from January 2004 according to the website www.rileycom.co.uk
     
    Julia Sinclair, Jan 9, 2004
    #8
  9. Steven Sharp

    Peter Saxton Guest

    I couldn't find it on the web site but the best place to go is here:

    http://www.dti.gov.uk/cld/audit.htm
     
    Peter Saxton, Jan 9, 2004
    #9
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