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A is a small owner-managed company employing 20 staff and having a revenue of 300,000 Euro a year. It decided not to appoint external auditors to review its financial statement . Such a decision :
A is in line with the requirements of current legislation
B will be criticised by governmental authoritiesMy answer was B but the correct answer was A
I want to know why the correcr answer answer is A instead of B because i thought that every company should be audited irrespective of the size of the companyPlease help me with this question
No. Small companies don’t have to be audited. Limits vary between countries.
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