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Dormant company not require for audit

  • Writer: Thomas Tsang
    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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