Limited Attraction
13 September 2012
Many fims would welcome a relaxation of the statutory audit requirements for limited companies but we must not forget why they are there
The limited company statutory audit has been with us a long time, and it has often been said that the audit fee is part of the price of limited liability. But have you ever stopped to wonder why audit was deemed necessary in the first place?
Audit was introduced because the fact that people operating with limited liability could escape their obligations to the...