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Raising the threshold for audit exemption for small companies: Some implications for other users of audit services

Stella Fearnley (Department of Accounting and Management Science, University of Portsmouth, Locksway Road, Portsmouth, Hants)
Tony Hines (Principal Lecturer in Accounting at Portsmouth Business School.)
Karen McBride (Senior Lecturer in Accounting at Portsmouth Business School.)
Richard Brandt (Research Fellow at Portsmouth Business School and was formerly head of audit at Grant Thornton.)

Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Article publication date: 1 April 2000

Abstract

As part of a deregulation initiative for small businesses, the audit exemption limit was raised to £1m by the Audit Exemption (Amendment) Regulations 2000 in May 2000. This paper examines the possible consequences of this change on the supply of registered auditors' services and the subsequent impact this may have on a range of business entities, other than small private companies, which use registered auditors for various purposes.

Citation

Fearnley, S., Hines, T., McBride, K. and Brandt, R. (2000), "Raising the threshold for audit exemption for small companies: Some implications for other users of audit services", Journal of Financial Regulation and Compliance, Vol. 8 No. 4, pp. 300-308. https://doi.org/10.1108/eb025051

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MCB UP Ltd

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