What is the difference between audit and independent examination?

An audit is a rigorous check of the accounts to give an affirmation that the accounts give a “True and Fair” view.  An independent examination is for charities, and is the minimum legal external scrutiny required if there is a turnover of £25,000 – £500,000.  It is not as rigorous (or expensive) as an audit and results in a statement that there is no reason to believe the accounts are not accurate.

Posted in: Accounts & Reporting

Powered by WordPress. Designed by Electroville

Stringer House, 34 Lupton Street, Hunslet, Leeds, LS10 2QW | Charity Number 1076962 | Company number 3721361