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  • Writer's pictureThomas Tsang

Dormant company not require for audit

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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