Dormant company not require for audit
- Thomas Tsang
- Dec 26, 2019
- 1 min read
A company remain dormant since incorporation and throughout the period is not require to be audited whether it is PIE or not.
And a small company is exempted from audit if it is a private company (not a PIE) and satisfies the criteria as small company, the two out of three conditions.
1) Revenue <10m
2) Total assets <10m
3) employees <50
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