Non-Statutory Audits

Companies do not require statutory audits if they meet the requirements for exemption or if they are incorporated in jurisdictions where statutory audits are not required

Nonetheless, companies that are exempt from statutory audit may request for audits of their financial statements.

Examples of reasons for such requests:

  • To identify significant errors or misstatements, particularly if a company’s financial statements are prepared for group consolidation, or if there are concerns about potential errors in the financial statements.

  • To fulfil contractual requirements of one or more of the following: –

    • Shareholders’ Agreements;

    • Joint Venture Agreements;

    • Loan Agreements;

    • Any other relevant Agreements