How to prepare & file accounts and appoint & remove auditors

What are the Accounting & Audit requirements for a Private Company?

CO.CS.23

This Guidance Note Accounts, Audit & other statutory filings is a simple user friendly and practical ‘how to’ guide for finance directors and company secretaries in relation to the accounting and audit requirements for private companies under the Companies Act 2006 as well as looking at other statutory filings (such as the annual return) that need to be made. Also included is guidance on the recently introduced December 2013 regulations covering accounting exemptions for micro-entities.

The Companies Act 2006 requires that all companies must prepare and file annual accounts, therefore this Guidance Note covers the following:

• Time limits and filing generally
• Preparing and filing an annual return
• Preparation of the annual accounts
• Abbreviated accounts for micro entities and small and medium sized companies
• Distribution of the accounts
• Is an audit required?
• Appointment, removal and retirement of the auditor.

This Guidance Note will also helpfully link you through to all our relevant template documents, including board minutes, shareholder resolutions and Companies House forms for use when preparing the accounts and managing the audit process. These links can also be found below.

AR01 - Annual Return
AP01 - Appointment Of A Director
TM01 - Termination Of Appointment Of Director
TM02 - Termination Of Appointment Of Secretary
AA03 - Notice Of Resolution Removing Auditors From Office
SH01 - Return Of Allotment Of Shares
AD01 - Change Of Registered Office Address
AA01 - Change Of Accounting Reference Date
Board Minutes – Approval of Statutory Accounts
Shareholders’ Special Resolution - Amendment to Articles of Association
Board Minutes – First Meeting Of The Board Of Directors
Shareholders’ Ordinary Resolution – Appointment of Auditors
Shareholders’ Ordinary Resolution – Removal of Auditors and Replacement
Board Minutes - Resignation and Appointment of Auditors
Auditor’s Resignation Letter
Letter to Companies House – Auditor’s Resignation

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