Do you need an audit or an IE?
Use the checklists below to see if your not-for-profit requires an audit or an independent examination
Audit
If you answer yes to any of the following questions, then you require an audit:
1. Does your gross income for the year exceed £1,000,000?
2. Does your gross income exceed £250,000 and do your gross assets exceed £3,260,000?
3. Do the trustees wish to have the financial statements audited?
4. Does the charity’s governing document require an audit?
5. Has the Charity Commission requested you have an audit?
6. Does any funder require audited accounts?
What is the difference between an IE and an audit? Find out here
Independent examination
If you answered no to all of the questions relating to requiring an audit, but can answer yes to any of the following questions, then you require an independent examination.
1. Is your gross income for the year between £25,001 and £1,000,000?
2. Do the trustees wish to have the financial statements independently examined?
3. Does the charity’s governing document require an independent examination?
Find out more about our not-for-profit IE and audit services here
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Bursar, Sarum Hall School Trust
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