Home › Information › Business › Limited companies › Companies Act 2006 › Signing of accounts: directors and auditors
Signing of accounts: directors and auditors
Who is required to sign company accounts?
Subject to certain exemptions, a company that meets the small company criteria in respect of a financial year is exempt from the requirement to have an audit of accounts for that year. The conditions are:
- that the company qualifies as a small company in relation to that year,
- that its turnover in that year is not more than £5.6 million, and
- that its balance sheet total for that year is not more than £2.8 million.
It is important to note that there are many benefits and reasons for a company to have an audit. We will be pleased to discus these with you.
Companies that are not exempt include:
- A public company
- A company that is an authorised insurance company, banking company, an ISD investment firms or a UCITS management company, or a company that carries on insurance market activity.
- Dormant companies, subject to conditions
A company's accounts must be signed on the balance sheet by a director as approved by the board of directors.
Join us, we’re social
Click here to follow us on Twitter and Facebook and discover the lighter side of accounting at Lakeview.
Information
- Business
- Starting a business
- Limited companies
- The tax system for companies
- Forming a limited company
- Pros and cons of limited companies
- Buying a company 'off the shelf'
- Tax and the company car
- Company bonus or dividend?
- Tax saving strategies
- Interest and tax payments
- Companies Act 2006
- A company's members
- A more in depth look at the act
- Accounting records
- An auditor's rights to information
- An historical record of the key changes
- Appointment of auditors
- Appointment of directors
- Changing the company name
- Choosing a name for your company
- Directors transactions requiring members approval
- Directors' liabilities
- Directors' report
- Directors' service contracts
- Do you need an audit?
- Filing of accounts and late filing penalties
- Financial year
- General duties of directors
- Group accounts
- Loans to directors
- Records of directors meetings
- Registered office
- Related director agreements
- Shares and share capital
- Signing of accounts: directors and auditors
- Forming a limited company
- Companies House - forms you need to know about
- The law and directors' responsibilities
- Statutory records
- The company secretary
- Getting the company struck off
- Running your business
- Partnerships
- Your employees
- Selling your business
- Personal
- Tax
- Privacy Document
- Calculators
- Publications