Some firms need to appoint an auditor to do an external audit.
You must appoint an auditor to do an annual external audit on your accounts if your firm is:
- an authorised professional firm
- a BIPRU investment firm
- an insurance intermediary
- an investment management firm
- a mortgage administrator
- a mortgage intermediary
- a mortgage lender
- a personal investment firm
- a securities and futures firm
- a service company
Firms that don’t need an external audit
You don’t need to do an external audit if your firm is a:
- partnership
- sole trader
- small company that’s exempt from audits
- CAD firm