Impact assessment

Audit exemptions: revised final stage impact assessment

Impact assessment on amendments to regulations to allow more companies to make a commercial decision about whether or not to have a statutory audit.

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government


Audit exemptions: revised final stage impact assessment


This document supersedes the previous impact assessment published with the government response to the consultation on audit exemptions for small companies.

It covers changes made in 2012 to:

  • align audit exemptions with accounting exemptions for small companies
  • exempt subsidiaries from mandatory audit where their debts are guaranteed by a parent company in the EU
  • exempt dormant subsidiaries with parent company guarantees from preparation and filing and / or filing of accounts

This final impact assessment was approved by the Regulatory Policy Committee in May 2014.

Published 29 August 2014